4 ms·
> The thing about getting rid of prop 13 is you'd price out a lot of residents that bought a long time ago for something they don't have a whole lot of control
by bufordsharkley 10y ago
> The thing about getting rid of prop 13 is you'd price out a lot of residents that bought a long time ago for something they don't have a whole lot of control over.
One thing to consider is that the removal of Prop 13 would drive prices down, so in the tax burden wouldn't be as high as it would be, when compared to today's market rate of housing.
> If you thought that gentrification is bad now...
It's important to note that gentrification only happens to poor/disenfranchised neighborhoods, whereas the burden of removing Prop 13 would fall upon all, including the affluent. This is an important measure for fairness.
> To solve this, build more housing, or build more infrastructure to enable people to live further away, or both. However, residents in the bay area have always been opposed to things like that.
Largely because policy like Prop 13 shields them from the consequences, which has led people to remain in the same property interminably (even when they may wish to move), and to push for restrictive zoning policy.