Torie
Moderator
Atlas Legend
Posts: 46,061
Political Matrix
E: -3.48, S: -4.70
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« on: March 28, 2010, 10:17:20 PM » |
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« edited: March 28, 2010, 10:53:47 PM by Torie »
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Real estate prices have become more volatile since about 1970, due to government actions, including big changes in tax policy, changes in land regulation, changes in building codes, changes in environmental rules, changes in mortgage loan subsidies, and on and on. When Prop 13 based in California in 1978, real estate prices in about 3 years almost doubled for example.
It has been more wild in those places which have done more of this, and have natural land shortages, and population pressures, and of course more volatile economic ups and downs (California had a big down when the defense and aerospace industry largely collapsed in SoCal due to labor costs, and the end of the Cold War in the early 1990's, which of course also over time removed a relatively conservative voting block which influenced California politics as well).
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