Age The benefit accrues over many years, similar to rent control. As a result, the benefits flow to long-standing landholders, who skew disproportionately old

Age The benefit accrues over many years, similar to rent control. As a result, the benefits flow to long-standing landholders, who skew disproportionately older. The result, at least for me in San Francisco: I pay twice as much in rent for a bedroom in a four bed apartment as my grandmother does in property tax for a 4000 square foot mansion. She bought her place over fifty years ago; by definition, I could not have done so. Indeed, with the direction things are heading, huge categories of people are locked out of all segments of the SF housing market due to excessive prices; there's nothing level about that.