Comment by epistasis
2 days ago
And not in small part because Prop 13 disconnects property from housing costs, which leads to political incentives where beneficiaries of Prop 13 embrace policy that causes housing prices to rise precipitously.
2 days ago
And not in small part because Prop 13 disconnects property from housing costs, which leads to political incentives where beneficiaries of Prop 13 embrace policy that causes housing prices to rise precipitously.
Prop 13 or not most people historically resisted zoning changes and pretty much all cities in the country, even in Manhattan, were downzoned dramatically from what was possible as far as infill development the pre war zoning plans. Even today, the trend is never to recognize the housing crisis for what it is and widely upzone, but to just nudge a little more capacity in some containment zone of the city at good arms length from the best of the single family home neighborhoods, in the form of say transit oriented development of certain specific constraining factors, rather than just opening up the floodgates and allowing for market to actually establish prices freely.