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> Please don't downvote me just because you disagree with me. Instead, tell me why. I'll do both, because you are acting like an informed person but wrong abou
by cynicalkane 10y ago
> Please don't downvote me just because you disagree with me. Instead, tell me why.
I'll do both, because you are acting like an informed person but wrong about very basic things.
> 1) You can't add housing without adding proper infrastructure (transportation, sewage, power, etc). Adding infrastructure is expensive and takes a very long time. There will be no budget for proper infrastructure increase if the population keeps rising - remember that hundreds of thousands of people work for companies that offshore their taxes.
One, you don't "offshore taxes", you offshore profits. Two, corporations don't pay local taxes based on profits, so I'm not sure what you're on about. Tech workers? They pay quite a lot in local taxes.
> 2) Most people need financial advice on what real estate investment means. If there's another bubble burst, a lot of average income people will have their life ruined. They would have bought an apartment for, say, $1M, with 200k down, only to see its value decrease by 30-35%, essentially wiping out their savings and forcing them into unsustainable debt.
It is not the purpose of an economy to coddle wealthy people with artificial market restrictions, so I don't have any sympathy here. Also, mortgage debt isn't like college debt or credit card debt; it's secured by your house alone. Banks can't go after you for it. All they can do is give you a bad credit score for seven years. Which is bad, but I'm sure people who can afford million-dollar homes can afford to face the consequences of their actions.
> 3) I wish there was an easy way to fix the housing problem in SF. There isn't. Let's be realistic about it.
This isn't saying anything.