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More than that, Prop 13 incentivizes cities to have commercial real estate instead of residential. Thereby forcing housing to be ever farther from workplaces.
by btilly 7y ago
More than that, Prop 13 incentivizes cities to have commercial real estate instead of residential. Thereby forcing housing to be ever farther from workplaces.
- mikevp 7y agoBut before Prop 13, people on fixed incomes were getting taxed out of their paid-off homes they'd lived in for decades.
- ng12 7y agoWhich is in itself a symptom of the housing crisis. Instead of fixing the root problem they accelerated it.
- redis_mlc 7y agoDownsizing as you get older is a normal thing in the other 49 states. Also, Prop 13 inexplicably applies to commercial real estate, and inherited property.
- Gibbon1 7y agoNothing inexplicable about the application to commercial real estate. The major backers of the law were corporate interests. Also the inherited property bit was a separate amendment. And there is no limit either.