5 ms·
Prop 13 isn't really in the control of SF city residents. But damn, California ... time to put that wealth-transfer tax for the old, rich, landed elite to bed
by zenkat 8y ago
Prop 13 isn't really in the control of SF city residents.
But damn, California ... time to put that wealth-transfer tax for the old, rich, landed elite to bed already.
- viscanti 8y agoThey've made millions from the appreciation of their houses, but they are still active in preventing new housing to try to juice their returns even more. It's a problem of how many Americans see their house as their biggest investment (and if you were a granny who bought in California 50 years ago it likely is). So naturally these wealthy landowners who bought property decades ago are going to fight to preserve their investment, but like the article points out, they're actually slowly killing their investment.