Retiring boomers holding out

Who Killed Zoning Reform in California?

California homeowners’ opposition to new housing construction is entirely consistent with the behavior predicted by urban economist William Fischel’s “home-voter hypothesis.” Fischel’s work suggests that homeowners—or “home voters”—will make use of the state and local political process, particularly zoning, to prevent any development that might devalue their homes, which are usually a household’s primary source of wealth.

Boomer planning one last killing, a capital gains shot from their home gets them a nice place in Arizona, maybe Florida.  This is built in, a product of the public sector actually, retiring from the public sector in Calizuela is a double whammy.