"How did California get to a place where it tacks $75K onto the cost of a new home in the midst of a housing crisis?http://www.builderonline.com/building/regulation-policy/the-unintended-consequences-of-law_o …
Prop. 13 merely awarded all land value increases to the incumbent land owners.
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which means you end up w/ situations like this http://sf.curbed.com/2016/10/13/13270364/richmond-sf-empty-lot … where the owner did nothing
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to earn this return. Makes land (the primary input into housing) way more expensive than it should be
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Agreed! It also seemed to constrain local government's revenue and control.
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