@chessturd saidI live here and am a little right leaning on certain things and a little left (union worker) and very much into politics. You're nuts. Freakin new gov. is killing any fossil fuel projects and the solar plants are a bust. Time to retire and get the hell outta this god forsaken state. Maybe when they have no elec. things will change.
I'm calling it now.
California is so tired of illegals and sanctuary cities that they are rising up to change how things are.
I see a red Republican California in the future.
Possibly 2020 😉
07 May 19
@chessturd saidWe're actually more tired of hipsters and high rent prices.
I'm calling it now.
California is so tired of illegals and sanctuary cities that they are rising up to change how things are.
I see a red Republican California in the future.
Possibly 2020 😉
@AThousandYoung
If they kept prop 13 maybe your rent would be lower. My dad was a teacher and hated prop 13 but he loved his property tax rate after it passed. Now my brother then his son will get to enjoy it.
07 May 19
@eladar saidUnlikely. Supply and Demand are unaffected by that. Housing is an inelastic market.
@AThousandYoung
If they kept prop 13 maybe your rent would be lower. My dad was a teacher and hated prop 13 but he loved his property tax rate after it passed. Now my brother then his son will get to enjoy it.
07 May 19
@athousandyoung saidYet taxes get factored into the rent.
Unlikely. Supply and Demand are unaffected by that. Housing is an inelastic market.
07 May 19
@eladar saidNo, the taxes come out of the landlord's profits.
Yet taxes get factored into the rent.
07 May 19
@athousandyoung saidYes it does, that is why there is someone renting it out. A profit is built into the rent as well as having money to pay to fix air conditioners and such.
No, the taxes come out of the landlord's profits.
07 May 19
@athousandyoung saidOf course property tax is an aspect of rent, the landlord does a little sum.
No, the taxes come out of the landlord's profits.
These are all his costs i.e. people damaging the property, general wear and tear, taxes, regulation compliance. These are all his costs. Then he adds up what will come in. A - B = C. If C doesn't look good it doesn't happen.
The tenant ends up paying for the tax and regulation.
07 May 19
@wajoma saidIn reality C always looks good but hipsters make it look even better.
Of course property tax is an aspect of rent, the landlord does a little sum.
These are all his costs i.e. people damaging the property, general wear and tear, taxes, regulation compliance. These are all his costs. Then he adds up what will come in. A - B = C. If C doesn't look good it doesn't happen.
The tenant ends up paying for the tax and regulation.
07 May 19
@athousandyoung saidHousing is not inelastic. Some minimal level of housing, perhaps, but location, size and quality of housing are highly elastic.
Unlikely. Supply and Demand are unaffected by that. Housing is an inelastic market.
@athousandyoung saidBoth links are extremely shallow analyses, and both concede that housing is price elastic in the long run.
https://thebasispoint.com/inelasticity-of-supply-is-allowing-home-prices-to-increase/
http://www.infocheese.com/elasticityofsupplyhousing.html
Of course, nonsensical government policies like rent control hurt elasticity, but housing in a given location or at a given comfort level is certainly price elastic. People will simply live farther away from the city center if housing prices rise too high in that area. In the long run, of course, they will move to other cities unless the local economy can pay them what housing costs.
@sh76 saidNo, actually they get evicted and end up on the street and are replaced by the spawn of the wealthy who pay their bills with Daddy’s money. Workers cannot compete with that in this economy. That’s why homelessness is increasing. I don’t know anybody who does what you say. If your reasoning represented reality all the homeless I see every day (including some of my elderly, sick relatives) would just move to Victorville.
Both links are extremely shallow analyses, and both concede that housing is price elastic in the long run.
Of course, nonsensical government policies like rent control hurt elasticity, but housing in a given location or at a given comfort level is certainly price elastic. People will simply live farther away from the city center if housing prices rise too high in that area. I ...[text shortened]... of course, they will move to other cities unless the local economy can pay them what housing costs.
https://www.tandfonline.com/doi/abs/10.1080/02723638.2015.1049480
The study finds that evictions are positively associated with (1) neighborhoods in early stages of gentrification, and (2) “pre-gentrified neighborhoods” that are beginning to be marked by changes in social composition
https://www.wsws.org/en/articles/2018/01/06/evic-j06.html
https://thehill.com/blogs/blog-briefing-room/news/421684-homelessness-rates-increase-in-us-for-second-straight-year