GRAPHIC: Southern California's housing recovery<quoted text>
I don't know that a car would be a big ticket item unless you're talking about a Hummer or something in that category. I meant like second/vacation homes, perhaps a house valued over $350,000, maybe an in-ground swimming pool and things like that.
It would have to be on a sliding scale that both parties could be satisfied with. However we would have to consider all the people that would lose work such as tax preparers, IRS people, tax software companies, tax courts and companies like H&R Block. There are hundreds of thousands of people that depend on our complicated tax system.
The median home price across the state rose 22.1% from a year earlier, to $364,000, in the fourth quarter of 2013, a steep rise driven in large part by investors and families fighting over a shortage of homes for sale. For homeowners who are nearing foreclosure and underwater (meaning they owe more on their mortgage than the house is worth), that appreciation means they are less likely to walk away, Walsh said.
The median price for a New York City home in 2013 rose just two percent year-over-year to $475,000, according to data from StreetEasy, but the price changes in individual neighborhoods were far more pronounced.