Yes of course Prop 13 is the root of the problem, but I’d expect Kim to be the last one wanting to fix it — not just for commercial or new purchases, but for everyone. High land values reflect a strong economy, and should be welcomed; the problem is that they translate into high rents when we don’t build more densely. The reason we don’t build densely is because NIMBY landlords, homeowners, and speculators have millions of dollars at stake to keep their particular home high-valued rather than sharing the land wealth with the community.

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Economist. Founder and president of the UBI Center. Studied at MIT and UC Berkeley. YIMBY. Former Google data scientist.

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