I will pay more in property tax this year as a new owner than my next door neighbor has paid in TOTAL since they moved there in 1965. That's California's Prop 13. It's a massive wealth transfer from the young to the old, many of whom rent their homes and keep the profits
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The current system creates strong incentives for not building and keeps out everyone except the old
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Nailed it
End of conversation
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How often are homeowners directly able to “vote for more housing”? Local councils or boards who routinely block new developments are hardly reflective of the views of their constituents today - why should we believe that is all of a sudden going to change?
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Necessary; not sufficient.
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