The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Peter V who wrote (168690)	12/3/2008 1:43:00 PM
From: Live2Sail	Read Replies (1) of 306849

Peter, One my big peeves against Prop. 13 is that it squeezes supply and increases prices. I believe that it was contributor to the higher housing prices in CA and the bubble. If Prop. 13 didn't exist, then the rate of price increase would be slower, and one wouldn't get taxed out of one's home. Why would someone who bought their house a long time ago sell it instead of renting it when the cost of ownership is so low. Then, because they're renting, they don't make improvements, and we're left with old, inefficient housing stock. Additionally, Prop. 13 causes municipalities to favor commercial and retail real-estate over residential making the housing price problem even more dire while over-retailing. Do you favor rent control? L2S

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