Not A Parody
posted by The Cunning Realist at Tuesday, September 14, 2010
Tuesday, September 14, 2010
About Me
I am a New York City resident in my forties, an investment professional, and a conservative. I have an MBA from Columbia University.
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4 Comments:
Meh, it's Time. Do you expect useful analysis from that rag?
I guess that means it is about time to buy ....
ALOHA!!
We sold our condo in the East Bay of San Fran in 2005 and bought farmland in Hawaii in 1998. It gets tiresome living in a State that does nothing but raise taxes and go broke every five years! What a shock California is broke again ...
For a five acre oceanview farm in Hawaii with a house property tax is $355 a year. In California we paid $2800 a year property tax for a 1500 sq ft condo on a 2200 sq ft lot with a view of my next door neighbor and a burned out brown vacant lot.
There are many more reasons not to own a home in California other than property values. In fact there are many more reasons not to rent either!
In California the highest sales tax rates are 9.25% ... here in Hawaii it is $4.2%. At some point it won't matter if jobs come back because nobody in the Middle Class will be able to afford to live there. Debt attrition kills lifestyle.
As for New York, take a look at the newest austerity proposals coming out of the Manhattan Institute. It looks like hard times ahead for not only Californians but New Yorkers as well. A couple states that are in perpetual bankruptcy way before the 2005 TIME magazine cover came out.
In California, the highest sales tax rate is 9.75 percent, not 9.25 percent -- and we have politicians who bitch constantly about how hard it is to raise taxes. Several of the steps that got us here were "temporary" sales tax increases that somehow managed to never expire.
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