I mean, the home owners can't be the voting majority right?
I mean, the home owners can't be the voting majority right?
* Proposition 13 is a law which is effectively "rent control for property taxes." It was passed through a direct democracy provision in the CA constitution, which prevents it from being undone by anything other than another direct vote by the residents of CA. It allows people to own homes worth many millions of dollars, while only paying a few hundred dollars a month on property taxes. This tax rate is inheritable, effectively creating a "landed gentry" class in CA. The tax rate is lost in most cases if the owner moves or does renovations beyond a certain extent, leading to numerous seemingly insane behaviors: for example, tearing down an entire house except for a single small wall, and then building a new house around that wall, or continuing to live in a 5 bedroom home long after all the children have moved out, crowding out a new family from being able to use that space. Worst of all, however, it has created incentives to vote for any and all proposed laws that make new building more difficult, leading to numerous follow on laws.
In California specifically, they voted themselves (via referendum) a law which also keeps property taxes down for incumbents
"The proposition decreased property taxes by assessing property values at their 1976 value and restricted annual increases of assessed value of real property to an inflation factor, not to exceed 2 percent per year. It also prohibited reassessment of a new base year value except for in cases of (a) change in ownership, or (b) completion of new construction. "
https://en.wikipedia.org/wiki/California_Proposition_13_(197...
What would you do if someone proposed a law that you figured would half the value of your home? Eat the loss or oppose the law?
Property owners in CA are being rational. They don't like the poop, commutes and homelessness. But they aren't willing to take a half-million dollar bath on their real-estate investment.
If you can barely afford your $2k rent, you don’t.
SF does spend a huge amount on its homeless. But, it’s apparently not effective. I can’t speak to why.