Prop 13’s impact on the political economy, empowering comfortable boomers, is probably as bad as its impacts on the budget.
This is the real reason manufacturing is leaving the West, not regulation and not evil plan by China. This is also the real reason for culture of thowing away things and not repairing -> a new dishwasher costs £300, but a mechanic needs to charge £100 an hour to pay rent.
If you rent is 50% of your income, the rent is actuslly 75% of your income -> because when you pay for anything, say get a plumber, 50% of your money goes to pay the plumber's rent. If, hypothetically, rents were zero, the plumber would cost twice less. You would have 4 times more money.