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@RyanBoyko81 @mikesimonsen I don’t disagree. I’m not even taking a stance on the tax. I’m arguing his cause and effect proposition is wrong.

@peaceseller @mikesimonsen I disagree. Economics exists to tell you what the impact of various policies is & you MUST bring in your own value system to decide what you want to do about it in the same way that physics exists to tell you the physical consequences of splitting atoms & not optimal nuke policy

Here's an illustration for how lower property taxes HURT affordability. Higher property taxes HELP affordability.

@mikesimonsen You can be dismissive if you want but I’m not an anti-taxer. Just just huge flaws in your theory.

Whoooweee the anti taxers show up with no evidence, a ton of personal insults, and a dearth of math skills!

@StanleyKubrick @MatthewModine This guy is such a good actor. Perfect in Godfather of Harlem. Perfect in Daredevil.

Hey numbnuts 🚨 Don’t miss the next episode of Kubrick In Conversation with the great Vincent D’Onofrio today at 5pmBST/12pmEST/9amPST on the official Stanley Kubrick YouTube channel. #KubrickInConversation #StanleyKubrick

@grant_melson It’s not hoarding if it working and benefitting many.

Can’t believe this guy’s goal is to hoard a $10T net worth. I would think with all that wealth, he would use it to help people more. Like ending deaths in car accidents, or providing affordable transport for everyone, or offering internet to isolated people groups or something.

@amablue_ @expla1n2 @mikesimonsen Yes house prices rise over time so to inflation(money supply) but I’m sure how this fits in the property tax conversation.

@peaceseller @expla1n2 @mikesimonsen It's not an analogy so much as it is the exact same mechanism.

The argument against getting rid of property taxes is NOT that other taxes go up. The reason not to get rid of property tax is that it will make housing less affordable!

@amablue_ @expla1n2 @mikesimonsen Maybe I misread you post. Still not sure I understand.

@conor_greene @mikesimonsen It was a subjective statement.

@peaceseller @mikesimonsen It's an "agenda based argument" based on the realities he clearly described.

@amablue_ @expla1n2 @mikesimonsen Not really an apt analogy as the biggest reason for this is the money supply is continually increasing.

@peaceseller @expla1n2 @mikesimonsen This is just like how stocks can rise in price in perpetuity without having infinite present value. If you can estimate the amount they'll grow by, you can figure out what they're worth to you today.

@GeoffGrammer lol…at least do a test run.

I'm not Team AI or Team No-AI. There is good and bad to it, and it's not going anywhere. But damn, humans using their brains to decide when it's worth using should never go out of style. CNM's graduation this past weekend used AI to announce graduates' names. I'll give you a guess how the names of kids from New Mexico were pronounced that weren't Jones, Smith and Johnson. Students, who would have failed for such laziness, did have an option ahead of time to check their pronunciation. Some have said they did and it still didn't work, but it also seems as though many did not. This doesn't absolve CNM from a tone-deaf decision to go with an AI voice machine to pronounce hundreds of YOUR GRADUATES names in a state with so many names like Padilla, Quintana and Trujillo. OK, I get it. I'm old. I'll go find the next cloud to yell at now. (and I hope my wife, who works at CNM, doesn't kill me or have a robot do it for her because I posted this)

Two very different markets with very different price drivers. Different overall tax structures, land demands, salaries etc. This is not the A/B test you are attempting to represent. Home prices push to monthly payment affordability. Removing taxes doesn’t change that number. Total cost is the factor.

@peaceseller @DruidofNecro The data is very clear on this. In California you never sell because it's so cheap to hold. In Texas, you are incentivized to resell and not less real estate because the holding costs are higher. You can measure this in inventory per capita. It's very clear. Very obvious.

@expla1n2 @mikesimonsen Correct. But when paid off no pepetual taxes. So a net gain for the buyer.

@peaceseller @mikesimonsen Lower carrying costs results in increased asset values.Peoples monthly budget doesn’t change.If the prop tax cut reduces their prospective payment by $100, they’ll just bid the price higher to their maximum monthly budget.The result is a higher price and the same monthly payment.

@mikesimonsen @DruidofNecro Incorrect. The supply stays the same. The old people it encourages to vacate will still need a place to live. Supply is new build vs demolition.

@peaceseller @DruidofNecro Lower taxes decreases supply because it encourages hoarding. In California we have chronic shortage of inventory because of ultra low property taxes.

When you characterize it that way it moves from a fact based argument to and agenda based argument and I makes me want to distrust your numbers and olredifted outcome. Not all old people are rich. Not all young people are poor. These kinds of emotion based statements erode trust. At least for me. I can easily flip that narrative but we will be no closer to the truth.

@peaceseller one way to think about it is who do you want to serve: old, rich people or young families? 😇

@mikesimonsen That’s a better chart. Thank you. I have some issue with the premise still bouncing around my brain based around total monthly payment but I need to think them through more. Appreciate the responses.

@peaceseller Here's how the math works out. This is true because property tax rates are lower than mortgage rates. You want to mortgage less and tax more. It is true that lower taxes helps the old people! In California our taxes our so cheap we make our kids move to Texas.

@DruidofNecro @mikesimonsen It doesn’t reduce supply. It churns the same supply.

@peaceseller @mikesimonsen People dont sell property when they pay low property taxes. This reduces supply

@keystonecourts @mikesimonsen This is not a good thing. But even if it were foreclosers are minuscule compared to the past with the laws put in place since 2008.

@mikesimonsen Property tax pressure tends to flush out overleveraged owners faster. Foreclosure filings spike in high-tax counties when rates rise. Different channel than affordability math but the distressed supply effect is real.

@AaronGogley @StaceyVaughn @PatrickHeizer Your points purposely ignore that at this point in the curriculum that basic addition has already been taught. Hence the word “obtuse”. But you can stay in your emotions if you choose because you don’t like it for some reason.

@peaceseller @StaceyVaughn @PatrickHeizer Evidently, your syntactic structures and lexical repertoire emanate from the selfsame pedagogically bankrupt repository that likewise engendered your mathematical deficiencies.

I'm always amused by this post because my dad taught me "make a ten" trick in the 90s. It's not new. Y'all just admitting you have no sense for numbers, which is the entire problem with pure memorization.

@AaronGogley @StaceyVaughn @PatrickHeizer Omg. You are one of those obtuse people.

@peaceseller @StaceyVaughn @PatrickHeizer This isn’t teaching relationships. Before you can teach a relationship between two things you actually have to first learn what the two things are. If you weren’t taught to learn basic derivation using even numbers you weren’t taught the “old way.”