Housing is cheap in Texas because the regulatory burden of getting permission to build is low, so the price of housing stays near the cost of building more. In San Fransisco it is almost impossible to get permission to build, so the price is bid up by demand to a level far exceeding the physical cost of construction. Land taxes are not a major driver of this.
Housing is cheap in Texas because the regulatory burden of getting permission to build is low, so the price of housing stays near the cost of building more. In San Fransisco it is almost impossible to get permission to build, so the price is bid up by demand to a level far exceeding the physical cost of construction. Land taxes are not a major driver of this.