"Nobody really has the power to do this"
The State of California has the power to fix this and, presumably, the motivation to lift this albatross from the neck of the economy.
The State of California has the power to fix this and, presumably, the motivation to lift this albatross from the neck of the economy.
Fixing the housing issues in the Bay Area would be worth billions to the larger economy, but the people who make and influence the decisions are largely concerned with other matters (specifically, house prices and doing things that voters approve of).
The amount of California residents that are forced to be renters makes the continued existence of Prop 13 less and less tenable every year.