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This is a common opinion that never actually matches the facts. The issue is all the things blocking supply. As long as supply is blocked, prices will go up, P
by socalgal2 10mo ago
This is a common opinion that never actually matches the facts.
The issue is all the things blocking supply. As long as supply is blocked, prices will go up, Period
- amelius 10mo agoBut why allow e.g. Chinese investors to buy property in SF if they aren't even going to live there?
- cycrutchfield 10mo agoDo they pay property taxes?
- amelius 10mo agoMaybe but that will certainly not bring down prices for the average US citizen looking for a home.
- cycrutchfield 10mo agoWhy not?
- fragmede 10mo agoIn California? With prop 13? Hardly. We invented money as a way of distributing scares resources. When there is housing going empty while people live on the streets in tents with no running water, no electricity, no sewage, one has to realize that something's gone wrong.
- cycrutchfield 10mo agoI don’t think you understand how prop 13 works
- CalRobert 10mo agoThe slow phase-out of prop 13 was voted in a couple years ago so it should become less relevant over time.
- socalgal2 10mo ago1. It's only an investment because of limited supply. 2. Chinese investors buying up and not living there is effectively a myth. There just are aren't very many of them. 3. What's special about "Chinese"? If a rich NYC finance person buys a vacation home in SF is that ok? How about a Brit or German?
- t43562 10mo agoThe supply may be limited because the people who own property want it to remain so.
- deleted 10mo ago[deleted]