Why Haven't Voters Been Buying the Case for Increasing Housing Supply?

Re:Why Haven't Voters Been Buying the Case for Increasing Ho... by jjav on Sunday March 24, 2019 @02:14AM (#19474743)

> Around me in SF an entry level home at $1M would have a tax bill of $10,000. But it’s locked forever.

Property tax in CA goes up 2% every year. So,

year 0: $10,000 year 1: $10,200 year 2: $10,404

And so on... maybe it doesn't go up as fast as you'd like (until you own a place) but it is by no means locked in.

[ Parent | on HN ]

Re:Why Haven't Voters Been Buying the Case for Increasing Ho... by Dylan16807 on Sunday March 24, 2019 @03:49AM (#19475035)

That's less than inflation! It doesn't count as going up.

(It will peak over inflation in some years, but it's still effectively a freeze. Even a modest property appreciation like 50% will stay out of reach of an annual 2%-minus-inflation effectively forever.)

[ Parent | on HN ]