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“where a lot of people are trying to use their single family homes as an outsized, speculative investment asset”

Wouldn’t that be pretty much every city in America with a sizable middle class?

Key word being “outsized.” Prop 13 (among other issues) has turned real estate in LA to sheer insanity relative to the age and quality of the housing stock.

So much easier to gentrify a neighborhood when you price it up and cause the original residents to pay the same tax as the new neighbors.

yes, which is why building housing and transit has become a nationwide failure

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