That’s because Prop 13 applies to commercial real estate as well because corporations are people too.

Wow. That makes sense. That explains why so many seemingly infrequently visited businesses still have storefronts in Berkeley. I always wonder how they stay in business. I thought perhaps commercial rent control.

Moes owns its building. Black Oak Books didn’t.

If Prop 13 wreaks havoc on housing, it’s much worse on commercial RE where it literally it spawns a class of rent seekers.

Fun fact about those golf courses: Remember when everyone was freaking out about Nestle using millions of gallons of CA water during the drought?

Turns out they used the same amount as one large golf course.