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Businesses are already leaving, tax revenue will crash harder once more businesses and residents leave, then only the grandfathered Prop 13 recipients paying $5
by seanp2k2 3y ago
Businesses are already leaving, tax revenue will crash harder once more businesses and residents leave, then only the grandfathered Prop 13 recipients paying $5k/yr on a property worth $5m right now will remain. It’ll get a lot worse before it gets better. Once all the value is destroyed, developers will swoop in and turn derelict neighborhoods into luxury apartments, the coffee shops will come back, and we’ll be back on the gentrification cycle once more.
- JumpCrisscross 3y ago> Once all the value is destroyed, developers will swoop in and turn derelict neighborhoods into luxury apartments, the coffee shops will come back, and we’ll be back on the gentrification cycle once more Then everything is fine. It’s just a question of time horizons. I disagree with this determinism. But if you hold it, the present is fine.