3 ms·
Rents are where they are because of state and local governmental policy. I beg you to go out and find a real estate investor to talk to. In any city in the wor
by malchow 11y ago
Rents are where they are because of state and local governmental policy. I beg you to go out and find a real estate investor to talk to.
In any city in the world with a functioning open market for land use, there are compelling profit opportunities in high-density high-rises, economy box living pods with beige walls, high-end glass condos with verandahs, and everything in between.
Prices do not have to do with the Bay Area's beauty. The draw is economic. And if policies do not moderate, it is a draw which can go away as quickly as it arrived.
- jandrese 11y agoThe prices are directly a result of the Bay Area's beauty. The whole reason the prices are so high is that the city has been absolute in its refusal to let people build giant hideous skyscrapers that would block the view of the bay. Those same ugly monstrosities would provide hundreds of apartments and dig the city out of its ridiculous housing shortage. Rents are high because demand is high and supply is low. Demand is high because there are lots of jobs there. Supply is low because the city refuses to allow high density development. It's a great deal for the people who already own homes and are planning to move out. They can sell their homes for a fortune and live like a king somewhere else.
- bogomipz 11y agoI don't know how true this is. Have you seen the amount of new construction going on in SF? Soma, Mission Bay, Indian Basin, thats all new. I doubt it's going to drive rents down in any way however.
- mcguire 11y agoReally? It doesn't have anything to do with an industry that recently moved in and started shovelling money around like it came out of the back end of a barnyard animal?
- deleted 11y ago[deleted]