Well, California's housing crisis is uniquely intense by almost any measure (affordability, relative/absolute homeless population, median family wealth).
Prop 13 is a unique and meaningful contributor to a glacial housing market -- if moving homes (to an equally-expensive home!) would quadruple your property tax, you're probably not gonna sell. And slow/frozen markets result in increased prices.
Prop 13 is a unique and meaningful contributor to a glacial housing market -- if moving homes (to an equally-expensive home!) would quadruple your property tax, you're probably not gonna sell. And slow/frozen markets result in increased prices.