4 ms·

All of CA has the prop 13, where we see it get blamed for high prices are in very high demand areas. How much price reduction would you really see without it?

All of CA has the prop 13, where we see it get blamed for high prices are in very high demand areas. How much price reduction would you really see without it? Looking at New York it doesn't look like much since the primary issue seems to be supply.

Decade 9y ago
But in New York, if you find Manhattan to be unaffordable, then you can move to a suburb. In San Francisco, the suburbs are even more expensive than the city. The bad incentives of Prop 13 reward cities for favoring offices over housing. The property tax generally doesn't support the infrastructure, so they approve other activities that they can tax. Cupertino just opened the Apple Spaceship, but they have no plans to approve housing for thousands more workers. In the news a month ago, in the midst of a teacher housing affordability problem, San Jose rejects teacher housing. http://www.mercurynews.com/2017/05/08/san-jose-city-hall-balks-at-landowners-plan-for-affordable-teacher-housing/ http://www.mercurynews.com/2017/05/08/san-jose-city-hall-bal...