I live in a sought-after coastal city in California - retired, homeowner, adult kids who live in town. My house has doubled in market value in ten years, less the full renovation I did. But :

We can't move, because our taxes would double or triple. Prop 13 keeps them stable, if we stay put.

Houses are often sold to out-of-towners for a second or retirement home.

My adult kids can't even imagine paying the mortgage on a house such as ours, if we gave them the down payment.

The local UC has far too little housing, which dumps students into crowded, over-priced rentals.

Gentrification has greatly reduced affordable rentals.

and on and on

True, we could choose to live in a place without good jobs, scenery, culture, medical care... nah.

When I was hiring engineers, I just told candidates from out-of-state to read the Craigslist ads. They never got back to me.

ah well.

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What's the end game?

Probably revolution against American Tories to free the wage slaves from the landed gentry class.

Otherwise, we might have to do the hard work of shifting taxes off productive activities and onto ownership of things which were not produced by human effort.

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