News for hackers. Stuff that matters.

A comment on Long Beach has temporarily suspended container stacking limitations. Parent comment

Re:Long Beach has temporarily suspended container stacking l... by pessimizer on Saturday October 23, 2021 @05:58PM (#28972752)
> they’ll become fantastically wealthy in such a scenario

If they leave immediately, rather than struggling to pay their massively increased property taxes, then mortgaging their house to keep up...

> by limiting property tax increases, California’s prop 13 is like a wealth SUBSIDY

...which apparently is a good outcome?

[ Parent | on HN ]
Re:Long Beach has temporarily suspended container stacking l... by Robotbeat on Sunday October 24, 2021 @08:57AM (#28977474)
More nominal wealth that reduces actual physical wealth (by slowing the improvement of land via adding denser housing) is not a good outcome. It’s just redistribution of wealth from newcomers or renters to existing homeowners.
[ Parent | on HN ]