[legitster]

It's kind of insane that you look at a city like San Francisco that's on a tiny bit of land in a desirable location and they absolutely refuse to build up.

I get that their Victorian houses are pretty, but they're only about a 100 years old and they are now crammed full of people and cars. It's too young of a city to be sycophantically in love with its past self.

[pydry]

That's partly the effect of prop 13. When land (or its proxy, property) is detaxed then property becomes a valuable commodity to hoard and guard the value of jealously.

So, it attracts the foreign investors looking for stores of value and encourages NIMBYism.

If the tax bill of properties in high value locations went up with land value then it would encourage people to stop hoarding and to sell up and have their properties redeveloped.

So, blame Howard Jarvis and his taxpayer's foundation.