3 ms·
After living here since 2009 I think I've figured out the Bay Area and San Francisco. SF is a city that doesn't want to be a city. It just doesn't want to grow
by justinzollars 8y ago
After living here since 2009 I think I've figured out the Bay Area and San Francisco. SF is a city that doesn't want to be a city. It just doesn't want to grow up. Silicon Valley has since spilled over into San Francisco and we have a combination of massive job growth, prosperity and extremely limited new construction. Every year more people arrive than we construct housing for.
Compounding the problem are many local politicians. Serious local political players are divorced from reality denying the relationship between supply and demand with the cost of rent; while focusing on price fixing techniques such as rent control as a solution.
The only way out of this is to build. We have to make this decision.
- anonymous5133 8y agoThe decision has already been made. No more building. More people can come but good luck to them getting housing. It is highest bidder wins.
- kec 8y agoWell, we could also repeal / sunset Prop13 and allow existing properties to reach their actual market values. This would suck in the short term, but it would lead to way more liquidity in the market, even if 0 new units were built.
- toasterlovin 8y agoIt doesn't need to suck in the short term, either. Phase things in over 10 years. That's plenty of time for people to adjust.
- stmfreak 8y agoHeard of fixed income?
- toasterlovin 8y agoSomehow the rest of the country manages to regularly increase property taxes as property values go up...
- deleted 8y ago[deleted]