I'm still working on this, and I don't know what kind of system will work, but something has to change.
Check: my coworker's taxes are about to skyrocket because the assessed value of her family's house has gone up by 100G this year.
They haven't done anything to their house. The only thing that's changed is that the real estate boom has hit their neighborhood.
In other words, they are going to suffer because rich people want to move here. And all it takes is for the rich to want to live somewhere. Suddenly the land will become more expensive, and if you don't have the bucks to stay you'll have to move on.
There is no recourse. The system guarantees that the poor and the working class will get screwed when it comes to land. I don't have a strong enough economics background to know what the solution is, but I do know that things have to change before we all end up homeless and living on a Wai`anae beach.
Check: my coworker's taxes are about to skyrocket because the assessed value of her family's house has gone up by 100G this year.
They haven't done anything to their house. The only thing that's changed is that the real estate boom has hit their neighborhood.
In other words, they are going to suffer because rich people want to move here. And all it takes is for the rich to want to live somewhere. Suddenly the land will become more expensive, and if you don't have the bucks to stay you'll have to move on.
There is no recourse. The system guarantees that the poor and the working class will get screwed when it comes to land. I don't have a strong enough economics background to know what the solution is, but I do know that things have to change before we all end up homeless and living on a Wai`anae beach.
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