It’s not just about building more housing. It’s also that California’s entire property and land use system incentivizes owners to hold, so fewer and fewer homes trade every single year.https://twitter.com/thebasispoint/status/1003325808528773120 …
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Example, statewide data since the 1970s: http://lao.ca.gov/Publications/Report/3497 …pic.twitter.com/GnKrPP1muQ
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Weird that the trend looks to be up from the early 90s to the early aughts. Is this residential only, or all properties?
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