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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m watching a lot of the news and struck by how the celebrity/mansion /multimillion dollar homes aspect of the story  is pushed. There are also lots of people who have lived there for decades and have otherwise typical middle class lives who have lost homes or are at risk.

My stepmother home is gone.   1800 sq ft 2 bdrm that she bought in 1975 for 78k. She was dropped by her insurer last year and was in the process of getting fair plan insurance and they were taking forever to underwrite. She and my dad moved to a retirement community (fortunately)but she kept her home and had been thinking about renting, selling etc.

My mom’s home (and my childhood home) is now in mandatory evacuation zone. [b] They bought a small ranch in 1972 for 68k and she stayed. [/b]It is very modest home for the neighborhood but there are many others like it. Fortunately I got my mom to leave recently and move close to me and rent it out because she could no longer live alone (dementia)…(my sibling refused to sell because of taxes, which was stupid. I wanted her to have easy access to capital so she could get the best care… I have been worried about fire since a 2019 wildfire which was a very close call and she was at that time developing dementia and I knew she would not know what to do the next time.)

The house is her only asset and the rent pays for memory care. I’m thankful she’s not there and aware of what’s happening.

My stepsister is on the edge of the evacuation zone, in a modest home with a couple animals. She is a researcher and can only afford to live there because her dad (a schoolteacher) left her the home when he died. She’s nervous like everyone else and is currently housing a friend who probably lost their home in topanga.

I’m grateful that everyone in my family is ok but I just don’t know what all these people will do. The super rich will have options but for many people those options are simply out of reach. [/quote]

Someone who purchased a home in what is now a VERY expensive neighborhood is doing extremely well. $78k?!  Let me guess, the home is at least $2 million?

Sorry but middle class people don’t live in 2 million dollar properties.

In positive news the land value is way more than the structure [/quote]

This isn’t right when the person is older and has owned the home for a long time. My parents purchased a home (my childhood home) in a different part of the country for $65,000 in 1978. My parents were middle class and self-employed, and now in their early 80s live on an extremely fixed income (it’s incredible to me how little they spend day to day, but normal to them as they are a different generation that doesn’t stop at starbucks and Wendy’s every time they feel a craving) and have medicare of course.

They still live in that house which is worth $1.5m today. They benefit from reduced property taxes because of their ages and length of time they’ve owned the house, and don’t upkeep it very well - these two factors permit them to financially stay in the house.  They aren’t poor of course because they have the house, but they would be financially devastated if they lost the house in a fire and had to move out long term. They are solidly middle class but for an asset that they don’t plan to touch until needed for elder care ($1.5m won’t go far to support 2 people in assisted living who potentially could live almost 20 more years). [/quote]

Prop 13 capped the amount the taxes could pay each year. These people are literally paying peanuts off the backs of younger hard working families who also want a place on the property ladder. It is completely unjust. And they get to pass that on one time to a child? Eff that.[/quote]

Perhaps they should cut spending for the asinine woke programs and especially cut funding for the "undocumented".[/quote]

I's been clear for decades people aren't paying their fair share. For people who keep voting for generous benefits it's galling that they personally don't want to pay for them and want new arrivals and younger people to foot the bill. It's gross.[/quote]

The elderly shouldn’t pay taxes at all. Most of them haven’t had a salary increase since 1980. What do you want them to pay all of their income to the tax man? The elderly aren’t a nuisance. [/quote]

The elderly aren’t all working so they don’t oay income taxes. [/quote]

lol please tell that to the IRS because my pockets indicate that is a lie[/quote]

If you have income then it doesn't matter if you are elderly.  Why should you get a break over younger working people who have less savings and more mouths to feed and more dependents?[/quote]

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