Can you point to models of what it should/could be? Something that accounts for the potential for mass migration to CA?...
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I mean I think Prop 13 is a bad law that encourages land banking. http://www.lao.ca.gov/Publications/Report/3497 …
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How much of that can be traced back to Prop 13, artificially lowering taxes on homes?
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...and OC is building housing hand over fist...way better than the Bay Area.
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And it looks as though the market isn't taking care of it. Time to provide social housing for low-income renters.
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