3 ms·

Good to hear that at least one person in California recognizes that it's a supply/demand problem. Build more housing. Build more high density housing. Simple

• irq11 9y ago
  Reduce demand. Tax the tech industry to encourage it to relocate anywhere else in the 99.99% of America it doesn't currently occupy. Also, for good measure: eliminate the mortgage deduction, and tax short-term capital gains on property at 100% to eliminate rampant speculation. Simpler solution to a complex problem.
  • tehlike 9y ago
    eliminating mortgage deduction could help with the prices, but overall, probably wouldn't affect how much each people end up effectively paying. I could pay 10K before the deduction, and effectively pay, say 8K, out of pocket. Remove deduction, i still pay 8K. Effectively nothing changes. Also, in the bay area, plenty of houses used to go for cash (to chinese). No amount of mortgage interest deduction cut could help with that. The demand & supply problem is somewhat due to prop 13, but still not entirely.