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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 3:11:08 PM
From: tejekRead Replies (1) of 306849
 
I think Prop 13 was made for the type of scenario we have had in the past 10 years: stupid, unrealistic housing price increases that had no correlation to income or inflation.

Prop. 13 helped cause the first bubbles in CA. When they reduced property taxes on housing, that allowed buyers to get more bang for their buck, causing housing prices to jump up as more buyers took advantage. There were other factors in play but Prop. 13 played a major role.
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