Tokyo seems to be able to do it without an issue. [Edit: I think I was confused by the negatives in your comment, I think we're in agreement] It’s an incentive

Tokyo seems to be able to do it without an issue. [Edit: I think I was confused by the negatives in your comment, I think we're in agreement] It’s an incentive problem, and a lot of people are incentivized to keep supply down. Housing can be affordable or it can be a long term investment, but it can’t really be both. If a lot of people are desperate to have their property grow in value, they will fight anything that threatens that. I think it’d be interesting to revoke prop 13 in a staged way. You can either build some large X amount of new housing each year or you can accept a 10% increase of the property tax on your property each year until it reaches the market value rate. If you’re going to constrain supply you should have to pay the cost. Though for the same power reasons this could never pass politically.