Who caused the Bay Area’s housing shortage? • Hacker News Board

Re: Who caused the Bay Area’s housing shortage?

#71

Post by zapita » Wed, Apr 11, 2018, 7:41 PM UTC

dragonwriter wrote: post #14

zapita wrote: post #12

Earlier quoted context omitted.

Note that repealing prop13 would probably not raise property taxes overall. It would spread them more fairly across all owners, instead of the current arrangement of newcomers subsidizing established owners.

> Note that repealing prop13 would probably not raise property taxes overall. A straight-up repeal of Prop 13 would repeal rate limits on property taxes as well as assessment increase limits (both are part of Prop 13) and probably lead to jurisdictions, over time, increasing property tax rates and overall property taxes. It would probably reduce increases in sales, income, and other taxes, which currently are used in…

That's a good point, your comment led me to research a bit more, and I learned that prop13 did in fact caused local governments to rely more heavily on sales taxes. Ironically this has contributed to the perverse incentives against building housing inventory, since commercial zoning is more likely to generate sales tax and other business-related tax revenue.

Re: Who caused the Bay Area’s housing shortage?

#72

Post by zapita » Wed, Apr 11, 2018, 8:05 PM UTC

curun1r wrote: post #21

zapita wrote: post #12

Earlier quoted context omitted.

Note that repealing prop13 would probably not raise property taxes overall. It would spread them more fairly across all owners, instead of the current arrangement of newcomers subsidizing established owners.

Not necessarily. Prop 13 also gutted California's funding for schools. They lost 1/3 of their funding overnight when Prop 13 passed. One would hope that repealing Prop 13 would also undo at least some of that underfunding, considering California is 41st among states in CoL-adjusted per-pupil spending.

I did not know about that. Do you have a reliable, unbiased resource to recommend where I could learn more?

Re: Who caused the Bay Area’s housing shortage?

#73

Post by nontechdude1 » Wed, Apr 11, 2018, 8:31 PM UTC

wjnqx wrote: post #70

nontechdude1 wrote: post #69

Earlier quoted context omitted.

Give me your stock options. You're just a selfish beneficiary of the pyramid scheme that is the US technology industry.

I'm a UC student on Pell grants. My parents were priced out of owning a home in their metro area. What is wrong with you? What destroyed your empathy, compassion, and hope?

I was trying to be provocative. I'm just saying, politics is a sensitive subject, and to you, "equalizing property taxes" might seem righteous, but in reality it could mean someone else losing their home. I think prop 13 is grounded in sound principles.

There are ways to dramatically increase the housing supply that I think we should be working on and it seems like the state is doing that.

Re: Who caused the Bay Area’s housing shortage?

#74

Post by curun1r » Thu, Apr 12, 2018, 3:46 AM UTC

zapita wrote: post #72

curun1r wrote: post #21

Earlier quoted context omitted.

Not necessarily. Prop 13 also gutted California's funding for schools. They lost 1/3 of their funding overnight when Prop 13 passed. One would hope that repealing Prop 13 would also undo at least some of that underfunding, considering California is 41st among states in CoL-adjusted per-pupil spending.

I did not know about that. Do you have a reliable, unbiased resource to recommend where I could learn more?

There this: http://www.kpbs.org/news/2010/mar/26/prop-13s-impact-schools...

Re: Who caused the Bay Area’s housing shortage?

#75

Post by zapita » Thu, Apr 12, 2018, 5:25 AM UTC

curun1r wrote: post #74

zapita wrote: post #72

Earlier quoted context omitted.

I did not know about that. Do you have a reliable, unbiased resource to recommend where I could learn more?

There this: http://www.kpbs.org/news/2010/mar/26/prop-13s-impact-schools...

Very useful, thank you.