Re:Canada to ban foreigners from buying homes
by rank0 on Thursday April 07, 2022 @06:10PM
(#30950930)
Prop 13 is intended to protect homeowners from being gentrified out of their residence. Even if I think it's backfired, I understand the motivation. I would be livid if I was a lifelong CA resident and suddenly could no longer afford my lax liabilities as a result of demand/speculation.
This is just one piece of the puzzle, and frankly its a bit much to chalk it all up to power/greed. Again, if CA homeowners make up the majority of voters what exactly is the alternative?
If I'm being honest, my opinion on CA housing markets means nothing...but it seems pretty sensible to me that when a shitload of people all want to live in a handful of cities, prices HAVE TO increase. Removing prop 13 and zoning restrictions isn't going to double the housing supply.
On a semi-related note, pretty much everything in CA is more expensive. The residents there vote for expensive public services and legislation. When everything is more expensive, you bet your sweet ass houses will be as well.
This is just one piece of the puzzle, and frankly its a bit much to chalk it all up to power/greed. Again, if CA homeowners make up the majority of voters what exactly is the alternative?
If I'm being honest, my opinion on CA housing markets means nothing...but it seems pretty sensible to me that when a shitload of people all want to live in a handful of cities, prices HAVE TO increase. Removing prop 13 and zoning restrictions isn't going to double the housing supply.
On a semi-related note, pretty much everything in CA is more expensive. The residents there vote for expensive public services and legislation. When everything is more expensive, you bet your sweet ass houses will be as well.