Re:The Housing Market in San Francisco and Ideas to Fix It
by mdb333 on Friday April 08, 2016 @03:25PM
(#11457184)
well, Prop 13 was passed way before 2001-2007, its an artifact of the late 70s. Still that's true that people can become priced out by tax increases (this was/is a problem in DC).
And you're right... as owners now we don't care and only benefit from the absentee neighbors. That's a major part of the problem. Now that we're invested, we are naturally opposed to anything that would untether our tax rates. If our neighbors (who mostly bought in the 80s/90s) were paying tax on the current valuations they would be encouraged to either sell or rent thus creating more inventory and helping bring prices toward equilibrium.
And you're right... as owners now we don't care and only benefit from the absentee neighbors. That's a major part of the problem. Now that we're invested, we are naturally opposed to anything that would untether our tax rates. If our neighbors (who mostly bought in the 80s/90s) were paying tax on the current valuations they would be encouraged to either sell or rent thus creating more inventory and helping bring prices toward equilibrium.