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I know people like to blame Reagan for lots of things, but Prop 13 was passed by voter initiative in 1978, Reagan was Governor from 1967 to 1975. He probably vo

• icantdrive55 10y ago
  "I'm mad as Hell" Howard Jarvis. My father was madder. He would watch those property taxes go up every year, cringe, and gulp his Mickey's Big Mouth Beer. (My father died of liver cancer years later. My father drank for many reasons, but all adults were furious over what politicians were doing with all that money. It wasen't pretty.) Politicians used the money on pet projects. I was a kid, but I knew something was very wrong. Everyone knew--Republicans, and Democrats, even the hippies were furious. The waste/borderline fraud was on the front pages of newspapers monthly. The Bay Area is a disaster. Rents are atrocious. Traffic is worse than ever. Sewer systems were built, but their was just never enough to enlarge them? They always had money to hire a new relative though? But--your Founders just have to live here, and set up shop in the high rise, with the hand finished wood tables. I don't quite get it. Yes--I do get it. It's they can buy the nice house in the nice neighborhood, and "Oh well?". But they always blame it on the Investors. "Investors need to be close to their money?" It's getting old. But blaming prop 13 in any way is just projecting. Take away prop 13. Within weeks REIT's, your Founders, Every DINK with money will be chasing those units. I give it a year, and the widows would be gone, and the 1 percenter's will be Landlords. Get ready for New York City rents.