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That’s because Prop 13 applies to commercial real estate as well because corporations are people too.
by CalChris 9y ago
That’s because Prop 13 applies to commercial real estate as well because corporations are people too.
- taysic 9y agoWow. That makes sense. That explains why so many seemingly infrequently visited businesses still have storefronts in Berkeley. I always wonder how they stay in business. I thought perhaps commercial rent control.
- CalChris 9y agoMoes owns its building. Black Oak Books didn’t. If Prop 13 wreaks havoc on housing, it’s much worse on commercial RE where it literally it spawns a class of rent seekers.