Silicon Valley - Real Estate - Large Land Holdings

[fuzzywzhe]

Property prices are destroying silicon valley. It's no longer a desirable place for young engineers to live because of propery costs, and because of proposition 13 the taxation from this bankrupt state is a hostile environment to starting up new businesses.

[NickB1967]

@fuzzywzhe: Without Proposition 13, taxes would be even worse.

[fuzzywzhe]

@NickB1967 "Without Proposition 13, taxes would be even worse."'

Not for anybody purchasing a house!

Seriously, who would sell a house they bought for $25,000 and pay $800 a year in property tax? Oh, I know, somebody who can make $500,000 from the sale, and leave the area and retire.

Then the next owner, well they pay $5,000 a year in property taxes. Great if you happen to be born here, sucks if you actually work here.