Uh, more like longtime property owning San Franciscans used a regressive tax subsidy to shift housing burden to young people & the poor.https://twitter.com/CurbedSF/status/804158085338001408 …
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into an unparalleled, scarce asset. There is no financial incentive for cities to build more housing bc their
property tax revenue from new housing is capped at lower than the cost of providing services like police, schools
owners basically get to capture all financial upside w/ capped taxes, so it incentivizes foreign capital to park here
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