[quote=spdrun]Higher property taxes on landlords would just be passed on to tenants, pricing more out of decent property. At the very least, any repeal of Prop 13 would have to be phased in gradually and/or only for newly sold properties.[/quote]
Not as easy to do as some might think. Renters will choose between:
-moving to a more affordable location, keeping rental demand down
OR
-move more people into existing units in order to bring in more income (resulting in more damage to the units, higher turnover rates, and a greater likelihood of no/late payments).
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The most likely scenario is that, after attempting to raise rents and experiencing the above, landlords would sell their rentals and owner-occupiers could buy them, instead. This would bring more stability to neighborhoods while enabling people to buy homes that they can pay off before retiring (helping to protect against shortfalls in Social Security, pensions, and retirement plans). This is what we should be aiming for, IMHO.
