Re: Lotsa equity but no cash.
Absolutely. If they revalued my existing home, my prop taxes would jump substantially. I'd move to nevada, oregon or elsewhere in a heartbeat.
Right now, i'm not paying much in state income taxes, and I just dont buy enough stuff subject to the sales tax to care.
Half of the LA and SF area would have to sell and bail out of state if they took prop 13 out.
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.