[jjav]

> If you believe that, then why ratchet them up just because the property is sold?

An argument here is that it's about budgeting and predictability.

If I choose to buy a $1M property today, I need to consider and budget for the $10K+/yr in taxes on it because I know full well that's what I'll have to pay. If that doesn't work for me, I don't have to buy it.

But someone who bought a $50K property and responsibly budgeted for the $500 in taxes on it will be severely punished through no fault of their own if that $500 becomes $10K.

[rcpt]

People who made a $50k leveraged bet which is now worth $1M are who we're supposed to ruin our schools, parks, infrastructure and housing market for?

[jjav]

> People who made a $50k leveraged bet

They did not "make a leveraged bet". They bought a home to live in and watch their child grow in it.

Not everyone looks at real estate as a investment vehicle to maximize profits. It's just a home. It's not healthy for society to view homes merely as if they were shares of stock to be traded for maximum value. If you want to make leveraged bets, better to play the options market.

[rcpt]

Oh ok great. So how do I buy one of these "just a homes"?

[jjav]

Find a city and neighborhood you like and are interested in setting roots there for the long haul. Find a house that you love that can be a forever home for your preferences.

Don't think of it as an investment to flip. Think of it as home. After the purchase, no need to ever look at the property value estimates again. Just live it.

[rcpt]

Somehow you left out the whole part about actually buying the house.

Maybe your feel good spiel would make sense if price-to-rent ratios weren't the highest but that's not the case. Most of what you pay for here is a bet that values will go up. If it weren't for stupid laws like Prop 13 that only help land speculation this wouldn't be the case.