>>520987525
Part of it.
The main reason the past few years/decades is unfettered immigration, and property taxes
Millions of people being allowed to come here all need a place to live. Competition for housing drives up prices
Second, property taxes. They always go up, they never go down. Because of the increase in demand for housing (and this includes apartment buildings), prices for the stock have gone up, and thus, the property taxes because they're tied to the property's value.
And politicians love property taxes because they're generally hidden. Many home buyers do not factor in the taxes when they purchase. They're also hidden in the goods you buy from the grocery, gas station, restaurant, everywhere, because the owner of that land also has to pay property taxes, which you wind up paying in the cost of goods.
"Oh, it's only a $0.05 increase in every $1,000 of value" times every property in the county.
But because they're hidden except at the direct ownership level, politicians love them