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It's the 5th largest economy in the world, ahead of even India, and with 2% of the population to take care of. Must be all Prop 13's fault, no waste here behind
by gedy 6y ago
It's the 5th largest economy in the world, ahead of even India, and with 2% of the population to take care of. Must be all Prop 13's fault, no waste here behind the curtain. /s
- novok 6y agoProp 13 incentivizes cities to reject new housing because it is net revenue negative compared to commercial properties. That and it disincentivizes old people to politically advocate for affordable housing, because they don't have skin in the game / are free riders and thus do not feel the pain like everyone else. They end up ferociously protecting their boomer bank account (house value) because they cannot see beyond their own personal situation.
- gedy 6y agoMy comment was about lost revenue and how Prop 13 is blamed for all money ills, not the points you are addressing.