Re: Pent-up demand - Posted by vacationlover
Posted by vacationlover on June 02, 2007 at 21:02:04:
You and many of the others have made some interesting and insightful observations.
I’m a south FL investor. Sold off some rental property last year. Saw a little writing on the wall, too, with the property taxes. But, that’s another story.
My personal opinion is that Charlie (Crist) isn’t really going to do $hit, as far as meaningful tax and insurance reform is concerned. Why?? Well, how about that taxes have actually gone UP via the increase in school tax that was passed some time ago. He announced a sweeping change that was promised to be gray-mattered prior to June 12th, and penciled into law soon after. So… Let’s review. Taxes are supposed to be going down. But, they actually go up. ?? End of review.
Yes. Your scenario is right regarding homestead homeowners being entrenched because of the difference in property tax they would absorb by moving. I, myself, would actually consider changing my primary residence and moving up. But, there isn’t any logic in doing so, given the fact that my property taxes would probably triple. Mind you, I’m not unhappy where I am and am starting to seriously consider huge improvements here. Why not?? The improvements would easily outweigh the tax differential in< 3 years.
Thankfully, we did BUY RIGHT on rentals. BUT… think about this. We’ve got properties that are worth 2-3 time what we paid for them and now, due to taxes and insurance, we are beginning to get skinny on cash flow.
What’s up with that, Charlie???