While the working class and young face an unprecedented housing crisis, an entire generation is technically overhoused. https://twitter.com/ByRosenberg/status/887720758281027584 …
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Replying to @kimmaicutler @VamonosLA
Yes let's deflect it from being a class and culture war to being an ageism war :(
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Bring up ghost homes/foreign buyers - esp. Chinese - and watch the response.
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why do foreign buyers like California real estate so much? Because they get almost the same property taxes forever.
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really? where's the back up for these sweeping assertions? what I've read - real estate is mostly a good place to park cash.
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California real estate is an especially good place to park cash, because of its property tax & zoning laws.
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Not everything relates to your prop 13 vendetta. They invest here because they know rents and values will only increase - and security
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Domg. When you have capped taxes forever and capture virtually all gains, it becomes a great place to park, speculate w capital
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Driving up asset values for everyone else. You are dense. But your wealth depends on you not understanding this so whatever.
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