The Shock of Sweden's Housing Market Is Hitting the Country's Currency

Re:The Shock of Sweden's Housing Market Is Hitting the Count... by astura on Wednesday November 15, 2017 @11:37AM (#15705031)

Well, if you didn't have prop-13 wouldn't your taxes just go up anyway even if you didn't sell? Around these parts all real property is reassessed every five years. So the tax burden would hit right away rather than when you sell which would be worse.

I have a family friend whose neighborhood became really high end since the 30 years she bought the house. Her taxes are really high now and it's becoming a financial burden on her.

Unless I'm mistaken.

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Re:The Shock of Sweden's Housing Market Is Hitting the Count... by btilly on Wednesday November 15, 2017 @12:20PM (#15705462)

A hidden consequence of prop-13 is that every city wants commercial real-estate and none want residential because they get more taxes from businesses. This restricts the supply of housing, and is one of the root causes of high prices and long commutes.

Without prop-13 we'd have more housing, more convenient housing options, and lower prices. Yes, long-term residents would have higher taxes. However most of us would save both time and money on our housing costs.

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Re:The Shock of Sweden's Housing Market Is Hitting the Count... by astura on Wednesday November 15, 2017 @12:40PM (#15705710)

Thanks for the explanation.

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