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And that is why incentivizing real estate as an investment vehicle exacerbates the housing crisis. Misaligned incentives at the local level means that heavy-han
by dkislyuk 8y ago
And that is why incentivizing real estate as an investment vehicle exacerbates the housing crisis. Misaligned incentives at the local level means that heavy-handed state measures (SB 827, OP's proposal, etc.) is likely the only way out of this mess.
- avar 8y agoThere's plenty of potential ways out of the mess, but pretending that the status quo is uniformly bad and just needs to be fixed isn't going to help. The entire reason for why there's a problem is because the current state of affairs is awesome for some people (existing property owners) and bad for pretty much everyone else. Saying it needs to be a state law is just setting up a different variant of the same intractable problem. Who's going to care to lobby more when such a law is proposed state-wide in California? A bunch of property owners in SF/LA sitting on a million $ in assets, or potential future California residents who don't even live there because property prices are insane now?