A collapse in the inflated prices is the only way that most young people have a chance to buy a home. Even with debt slavery, home purchase is now out of reach for most young people.
Like the stock market, real estate prices have been supported by government interference for decades, protecting the banking cartel and others who feed the parasites in D.C.
It has also had the effect of making home owners falsely feel wealthier and less likely to tar and feather the D.C. parasites.

I don't really disagree with you but if the tax is on the purchase price only, that will quickly shut down sales of homes.

If I lived all these years in the first home I bought as an adult in 1970, the tax on $13k would be negligible. But the tax on $400k with my latest purchase (and which I am paying $4k/year property taxes right now)...it would not help me to sell this property if the price were to go up, even enough for me to cover the real estate agent's commission. People would just stay where they were and the real estate market would collapse.

In FL, iirc, if you stay in the same house your valuation does not increase. Only when you sell and get a different home will the valuation change, I think.
So a long time location-stable resident has lower taxes than a new resident or one who has moved to a different home.

Won't the 'assets' still have 'market' value based on what others would give for it (assuming you have the right to sell it)?
I think I have missed your point, LH.

$3,400? I guess that's an average amount, but nowhere near what so many people pay. Ours were at $9k when we moved out of TX to AZ (just assessed at $4k to pay at the end of this year), and now my son's are in the $15k range WITH Homestead exemption (much bigger/nicer house, but good lord, that's a lot). The only way to suffer less at this point is to move to someplace nobody wants to live....

As long as the government controls the amount of debt your FED note represents you own nothing anyway. All it takes is for the government to use ALL the debt in your notes to finance new government spending/debt and your assets are worth nothing.

The FED Note (debt owed to the banks) instead of certificates of precious metals held in the treasury, is the greatest scam, lie ever made. Inflation is nothing other that prices equalizing to the amount of debt removed from your FED note to finance government over spending. That is impossible with certificates and deadly with Debt Notes.

Bravo! +1

Just be prepared for your state to institute an income tax...the money is going to come from somewhere.

AMEN!

That would be an EXCELLENT Meme.

Charlie Kirk, Comforting Iryna...
She Ask "Why?",

Charlie: "Unfortunately SOME of us must perish so that EVERYONE can see what the LEFT has become, who they defend, who they march for..."

"Look down now... You mattered. Your tragedy is creating change. Over the years you will have saved countless lives!"

Me dino's brother Joe, who this year moved from Hoover of Birmingham to a home he had built in Tallahassee, is going to really like this!
Just by moving from Alabama he also escaped having to pay a state tax.

Me dino am impressed, Captain.
Also impressive was seeing Iryna sitting alone with the captain, "If the justice system actually worked."

You had an extra space: Amoral Compass!

I AM CHARLIE KIRK!

Living in FL, I feel I should comment on this.
First, taxing a home on its increased value is WRONG (it is an unrealized gain).
Second, All tax on growth should BACK OUT Inflation. As 90% of real estate gains are just inflation.

But I LOVE this idea. I would settle for limiting the tax to the purchase price. My house was $122K when I bought it. I paid it off decades ago. They say it is worth 545K now. My insurances was < $1K/yr. It would be > $9K/yr now. Double whammy. My insurance+taxes are now BIGGER than my original mortgage.

Now, my taxes are protected with Homestead exemption. But they are really increasing. From $1,400 to 2,400, now 2,800 with the recent acceleration being insanely fast. The 2% cap is helpful, but NOT after 30 years. And the more expensive the house becomes, the 2% becomes bigger.

Income tax is slavery.
Property tax (on sale/purchase) is fine.

But it begs the question. How do we pay for the services we do get? Schools, Fire Depts, etc?

Put me back to $1,400/yr (Tax on Purchase Price only), and I am good. But another 35 years in this house is going to be costing me more than ever.

BTW, Anyone else like the idea of DeSantis as a Supreme Court Justice!

sometimes things can be too true...

We have TABOR, the taxpayers bill of rights, that limits taxation in Colorado. But the Dems are trying to figure out a way around it. They want to spend more money on homeless hotels and light rail that runs empty, while the roads are full of potholes, bridges falling apart, and graffiti, trash, and homeless camps are everywhere.

Should read, an "Immoral Compass" !

It's true. You never really "own" your home, just because the mortgage is paid off. Bravo to Florida and Texas! Unfortunately, I am stuck in Colorado, where the Denver Dems are a billion dollars over budget with the state budget, and trying to figure out how to get even more tax money out of us.

Dems split and their mascot quits, now what do we do with them???

Crime now! Murder is a human right! LOL! The insanity of the left right now. Excellent ones, OUC!

Well done. Except one thing, the Dems don't have a moral compass.

Actually, I think MSNBC's headquarters (and a few others) give them a run for their money in that regard.

Then there's the US Capitol, Pentagon, FBI Headquarters, etc. etc. etc...

And that simple statement says it all.

If the dems win the mid terms we will see a lot of this.