PerryChase, thanks for answering my question on prop 13. Yes, I think that prop 13 is a bad policy, too. (And I don’t benefit from it). The shortcoming of the policy is that overtime, it really creates different “carrying costs” for homes based on when you entered the market. It’s kind of like rent control. While it reduces costs for earlier residents, it makes the marginal cost of late entry much higher.
