How Not to Ruin Your Housing Market

Taren writes:In terms of Q’s, I am happy to give you an excuse to write about Californian house prices!Despite being on the other side of the world I love hearing about how housing is different in different areas.I find that a lot of the problems mirror the market elsewhere so always happy to learn more about that.I am delighted to have this excuse because there are a lot of people in the US who are freaking out about property taxes and have ballot measures restricting them. Unfortunately, as with many things, California is about 50 years ahead of ya'll on this one, and the results from the future are bad. So hopefully I can inspire a few of you to vote against measures like these, and maybe even inspire a few Californians to vote to narrow or repeal California's property tax measure.There a lot of in-detail reasons why California's housing prices are so high, but the biggest one is property taxes. Specifically, that they're too low, and they're low in a weird way.Broadly the shape of…