2 ms·
I don't like Prop 13 either but the logic in this article is outright flawed. Their claim is that if prop 13 reduced rents, you would see lower rents in single
by fdsafdasf 3y ago
I don't like Prop 13 either but the logic in this article is outright flawed. Their claim is that if prop 13 reduced rents, you would see lower rents in single family homes owned for longer periods compared to new owners.
That's... completely meaningless and not even remotely close to how prices in a free market work. If you invested your life savings into a house would you lower the rent just because you got a good deal on fixing the roof?
- readthenotes1 3y agoI think what the author is pointing out is that the cost of tax is detached from the price of rent in similar houses in similar locations. That is, he is pointing out that in the highly regulated market of housing (not even close to a free market) that Prop 13 does not help renters and instead favors long-standing owners mightily.