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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: mel221 who wrote (114147)	5/23/2012 11:22:25 PM
From: tejek	Read Replies (1) \| Respond to of 149317

It encourages people to buy a home and stay in it for decades. Thereby reducing supply which frequently leads to higher prices........esp in a state that was growing quickly at the time. It also encourages people to rent from someone who has owned the property a long time. No landlord will rent below market if s/he can help it. I'm still with BUTW on this. Prop 13 was a reaction to rising home prices caused by inflation, increased demand and restricted supply. BS. Prices were not going up very quickly for the first half of the 1970s. There was a spurt between 1975 and 1978 when Prop 13 was passed but that happens in any active market.........then later prices contract. However, the purveyors of Prop 13 sold CA voters on the notion that the price increases were out of control and they would lose their houses due to escalating property taxes.......typical republican scare tactics. And it worked...........voters passed Prop 13, setting CA on a dangerous road whose effects began to be felt 15 years later....soon after I moved to the state.