Hacker News new | ask | show | jobs
by civilitty 968 days ago
> And destroy the property values of all the people that worked their whole lives to own a home there.

California stands alone as one of the top 5 or 6 biggest economies in the world. The 2008 GFC was a blip in our housing market even when the economy turned upside down. My city experienced less than 18 months of flat real estate prices before growing out of control again.

If an actual economic crisis caused by housing loans doesn't destroy California's housing market, forcing companies to pay their fair share certainly won't.