5 ms·
Yes, LA should build more housing, but it doesn't help when people remove housing from the market. This is a huge problem with AirBnB, they're encouraging peopl
by Sanddancer 10y ago
Yes, LA should build more housing, but it doesn't help when people remove housing from the market. This is a huge problem with AirBnB, they're encouraging people to remove supply from the housing market, often in the areas where more housing is needed the most.
- hindsightbias 10y agoI'm for repealing rent control - if we repeal Prop 13 at the same time. For some reason, landlords want their cake and eat it too.
- danhak 10y agoDon't know why this is getting downvoted--it's spot on.
- CaptainZapp 10y agoCan you briefly explain prop 13? Thanks
- IDanceOnAPole 10y agoCalifornia's Prop 13 is basically eternal rent control for landlords.
- sidereal1 10y agoIncreases to property tax are tightly capped. If housing prices skyrocket (which they have for a long time) the taxes on the houses barely rise at all. It highly encourages never selling property, and largely decouples property tax from the actual market price. All this results in a situation where the state with the biggest economy is constantly broke.