In a normal world, they would sell that house, they'd put it on the market and they'd buy like they'd buy a smaller little townhome or condo. They'd buy something that is more appropriate to their stage in life. But Especially in California and other high tax states, they don't [sell their homes] because their tax bill would be huge. So the effect of this would be to lower the cost of housing for people that are buying. (26:49–26:55)
CLAIM
Asserts that high tax bills prevent people in California and other high tax states from selling their homes.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
