.@sama met with Willie Brown, seeking advice on a run for governor of California: http://www.sfchronicle.com/bayarea/williesworld/article/The-man-President-Trump-fears-most-11144034.php …pic.twitter.com/OxBEPQRdUB
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Every year, residential property values increase in aggregate in SF by more than $100B. http://www.bizjournals.com/sanfrancisco/blog/real-estate/2016/01/san-francisco-home-values-zillow.html …
That's 13X the annual budget, 4 Airbnb's, almost the entire size of the CA state general fund. It's enormous.
Every year, affordable housing gets more and more expensive to create bc the land values get more expensive, labor supply disappearing.
Land that can be built on is scarce. If the supply was increased the price of land that can be built on would go down regardless of Prop 13.
Maybe a "Low/midddle income housing construction funding tax" on richest 1% would motivate them to help make prop 13 reform happen.
Majority of people own one property or less. Small few own many. Give a tax break to your first property, tax the rest much higher.
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