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It's effective because there's a measure of truth in there, especially in California. Prop 13 will limit taxes on existing housing stock, so cities and countie
by inferiorhuman 8y ago
It's effective because there's a measure of truth in there, especially in California. Prop 13 will limit taxes on existing housing stock, so cities and counties will levy fees on new developments to make up for it. Additionally, the cost of labor in much of California is such that just building any structure is extremely expensive (to the extent that only luxury units will make any money for the developer).
- MagicPropmaker 8y agoProp 13 allows a 2% increase a year. That's more than enough to keep up with inflation.
- inferiorhuman 8y agoHousing price growth well exceeds inflation.