5 ms·

Maybe he's (rightfully) worried about housing prices. He doesn't really have a problem with cash-flow, he does have a problem with an insanely bubbled housing m

by m3rc 10y ago

Maybe he's (rightfully) worried about housing prices. He doesn't really have a problem with cash-flow, he does have a problem with an insanely bubbled housing market that collapses the moment the tech bubble does

mzs 10y ago
Housing bubble did not burst when the tech bubble did last time. That's why I moved to IL. My options were under water, stock was rapidly falling, I had another kid on the way, and I still could not afford a mortgage anywhere near Menlo Park with decent schools. The housing bubble burst later during the financial crisis.
ng12 10y ago
His primary concern is keeping housing prices high. It's very clear that Mayor Burke's objective is to make Palo Alto a city for the elite. http://sf.curbed.com/2016/8/23/12603188/palo-alto-mayor-housing-interview http://sf.curbed.com/2016/8/23/12603188/palo-alto-mayor-hous...
- mikeryan 10y ago
  Its too late Palo Alto is already a city for the elite. Has been for a long time.
- maxxxxx 10y ago
  They need some cheap housing for the servants though.