Markets
Field notes tagged “Markets”.
What's Holding Up the Bond
There is a line on your property tax bill for voter-approved debt. It is a bond payment, collected parcel by parcel, with no reserve behind it and no revenue stream underneath it — just assessed value and the people still willing to pay on it. Which makes the credit question a question about the ground.
The Tax That Makes It Expensive to Leave
You can sell a rental for less than you paid for it and still owe tens of thousands in tax. Not through any exotic provision — through the ordinary operation of depreciation. It's the cost most often left out of the decision to leave.
You Can Move Your Money to Higher Ground Without Paying Tax on the Way
Like-kind doesn't mean like-located. The code lets you exchange a rental in a fire corridor for one anywhere else in the country, and defer the tax — capital gain and depreciation recapture both. Meeting the conditions is the hard part.
You Wouldn't Put It All in One Stock. Most of Us Put It All in One Climate.
Concentration is the one risk financial advisors are trained to take seriously. Yet most households hold the majority of their net worth in a single property, on a single street, inside a single climate — and call it prudence.
The Higher-Ground Premium
Climate risk gets all the attention for what it destroys. But the same repricing that marks down the dangerous places bids up the safe ones — and that higher ground is already commanding a premium.