Prop 13 limits fluidity in the marketplace and is bad for all of us. It’s like rent control- it may seem like a good idea at first glance, but it results in people who can’t afford to move and landlords who charge higher rent to everyone else to make up for the ultra low rent a few tenants enjoy. Similarly, Cities charge very high taxes to some people to make up for the pittance others pay.
We need to get rid of these artificial barriers to a truly free market in housing. Without these barriers, people would be freer to adjust to changes in their income or family situation, rather than being “locked in”. The bubble would pop sooner if it weren’t for market hinderences like Prop 13.
