Congrats guys. No new housing is gonna get built until after the next recession.https://twitter.com/SocketSite/status/1004511892461613056 …
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in say, subsidizing affordable housing, for low-income tenants, the land is *that* much more expensive to acquire or rent. It's not a coincidence that in SF, it's $300K per unit to local taxpayer subsidy to build/rehab and affordable unit *and* single-family home prices
also appreciate by $300K/ year there. You'd want to capture more of that upside for either public infrastructure or housing subsidies to more vulnerable residents (as is done in other parts of the world) but you can't.
Of course, things like Prop 13 disproportianely benefit corporations. So one could lift the corporate exception and raise a windfall without touching homeowners.
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