California suburbanized in the 1950s, 60s, ran out of flat, buildable land on the coast in the 70s & downzoned, cut its property taxes in the late 70s. Then cities added fees on new housing to pay for basic infrastructure. Now you need $, inherit, or choose to overcrowd to stay.https://twitter.com/CalMatters/status/1024741553359613952 …
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Replying to @kimmaicutler
Should we author an article on “Why Prop 13 is the most inequitable and least reversible piece of legislation ever passed”?
2 replies 0 retweets 18 likes
Replying to @justindross
Probably. It's why the 101 cities of the Bay Area all compete with each other in this little Ponzi scheme of ever more office space to pay for a giant and ever-growing hole of long-term liabilities while the property-owning voters get like $200K a year each in home appreciation
1:30 PM - 1 Aug 2018
0 replies
0 retweets
20 likes
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