Talk about burying the lede. Today, as the state grapples with an unprecedented affordable housing shortage, Article 34 has limited effects on the construction of low-income developments. But it remains an obstacle: Los Angeles officials believe that without a public vote in the coming years, the city will no longer be able to finance such projects — even though it has the money to do so. I realize that screaming at…
> Rather increased housing leads to billionaires, Russian oligarchs and others buying up expensive real estate and not actually living there. I've become a firm supporter of the idea of gradually increasing non-occupancy taxes, with some scaling factor based off local overall vacancy rates.
If you want to fix this with taxes it's easy: repeal prop 13. We don't need golf courses in city centers or untaxed empty lots in prime locations.