this just in: inherited property driving racial and intergenerational income inequality and also being the main guarantor of economic security in the absence of a strong welfare state is going to end very very badly for America
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Replying to @kimmaicutler
yeah but from a pure tactics standpoint unless you offer older ppl with homes an alternative to property value to secure retirement we'll keep going that way. especially because the pension system is about to blow up, I hear
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Replying to @uhshanti @kimmaicutler
No but Prop 13 has made us go the other direction which is even people that want to downsize their home or move somewhere walkable often choose not to because of the incentives to maintain the old property valuation
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Replying to @matthewplan @kimmaicutler
how many people would you say that is vs people who genuinely don't want to leave?
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Replying to @uhshanti @matthewplan
other states have deferrals or low-income & senior exemptions. California is unique for the way it allows land to absorb so much of the creative & economic value of its people. You can't credibly talk about "land value capture" without talking about P13.
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it's the same dynamic for real estate developers as it is for existing land/property owners. They're all riding land value appreciation as the bulk of gains. SF residential real estate appreciates by the equivalent of 2 Ubers a year.https://www.bizjournals.com/sanfrancisco/blog/real-estate/2016/01/san-francisco-home-values-zillow.html …
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Replying to @kimmaicutler @matthewplan
I'm a monthly donor to Evolve lol I definitely care about Prop 13
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