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There's two ways to reach the desired state here (no full time employed individual cannot afford housing) - increase pay, and decrease housing costs. The troubl
by charleslmunger 8y ago
There's two ways to reach the desired state here (no full time employed individual cannot afford housing) - increase pay, and decrease housing costs. The trouble with increasing pay is that the rents themselves are set by the market - the bay area has dramatically under built housing for decades, and is still not building much. Raising pay for everyone is essentially a giveaway to current landowners - rent will just rise to absorb the new money flowing into the same amount of housing units. This effect can be observed (at a much higher scale) in the Mountain View housing market - landlords adjust their rent increases with the google stock price. Better solutions include:
1. Get rid of single-family-home zoning for large swathes of the bay area.
2. Incentivize developers to build more units per site, rather than fewer - https://www.sfhac.org/state-density-bonus-arrived-san-francisco/ https://www.sfhac.org/state-density-bonus-arrived-san-franci...