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Well it's either greedy, scheming tech workers or greedy, scheming Chinese speculators. Isn't there a pattern here? The problem simply must be caused by powerfu
by nerfhammer 9y ago
Well it's either greedy, scheming tech workers or greedy, scheming Chinese speculators. Isn't there a pattern here? The problem simply must be caused by powerful, scheming outsiders. Despite lack of evidence, as this comment is a great example, defying the claim of lack of such by GP as if it simply hadn't been heard.
- jacobolus 9y agoA lot of it is greedy, scheming local slumlords, to be honest. If we abolished Prop 13 statewide, did some minor up-zoning throughout the Bay Area (and had more mixed use zones), made new housing easier to construct (less drawn out process for people to block development, etc.), reduced parking requirements, worked on improving public transit, and taxed unlived-in buildings [or better, switched toward land-value taxes], did more planning at a regional rather than municipal level, we could take a lot of incremental bites out of the housing quagmire. Unfortunately most of those are politically infeasible.
- projectramo 9y agoYes, I think the largest property owner in the US is Blackstone, a private equity firm that bought the property at the downturn. From a strictly economic perspective they are helping increase demand when it was low and increase supply later on. They got rewarded for that.
- letlambda 9y agoHow does owning a property increase it's supply? I'm not an economist, but I think you have got to build houses to make more of them.