Prop 13 is an incomplete solution. It needs to be complemented by taxing actions that are speculative in nature, particularly by nonresidents. I think somethi

Prop 13 is an incomplete solution. It needs to be complemented by taxing actions that are speculative in nature, particularly by nonresidents. I think something like this could work, except it would be despised by current homeowners and brokers that have a vested interest in homeowner pricing to keep going up to the stratosphere: 1)Anyone seeking to buy CA real estate is in effect subject to taxes as if he were a CA resident (with no deduction for out of state taxation). 2) create a xx% tax assessed on FV of any property beyond a 2nd, for properties not owned by a CA resident. Double the tax again for any time the property stays vacant. Foreigners with oil money and dirty bribes can own, but not without paying taxes and also rushing to rent property out. Since tax is based on FV, it disincentivizes owning for speculation.