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> Prop 13, which is the Ponzi scheme Prop 13 is a tax issue, not a housing supply problem. It affects schools more than housing prices. Also prop 13's worst of
by bluejekyll 11y ago
> Prop 13, which is the Ponzi scheme
Prop 13 is a tax issue, not a housing supply problem. It affects schools more than housing prices. Also prop 13's worst offenders are corporations not individuals.
Individual property owners sell/move on average every 7 years. And the taxes are reset at that point to market rate for the new owner.
This has nothing to do with housing supply constraints, but for schools we should remove it from corporate property owners, who some like Wells Fargo have property that hasn't changed hands in over 100 years.
- ng12 11y ago> Prop 13 is a tax issue, not a housing supply problem If it's a tax issue that impacts the housing supply, isn't it both?
- bluejekyll 11y agoIt might reduce turnover, but what your arguing is that taxes replace rent as a forcing function for making people on fixed incomes move. That wouldn't increase housing, just displace lower income people more.
- mrexroad 11y ago> Individual property owners sell/move on average every 7 years. Really, on average? Just SF, or Bay Area overall?
- bluejekyll 11y agoI said 7 to round up, but lmgtfy: http://www.mymovingreviews.com/move/how-often-and-why-americans-move http://www.mymovingreviews.com/move/how-often-and-why-americ... Which claims 5 year average nationwide in the US.