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You blame home owners and Prop 13 for causing skyrocketing house prices, meanwhile homeowners and Prop 13 have always been here for decades with not too much in
by pfarnsworth 8y ago
You blame home owners and Prop 13 for causing skyrocketing house prices, meanwhile homeowners and Prop 13 have always been here for decades with not too much inflation. Meanwhile, tech in SF has been a recent phenomenon, and correlates perfectly to when housing prices started going crazy. In 2007/2008 I was renting a 1 bedroom apartment in SF for $1700/month. High, but not toxic. Now that same one has doubled. I've been here 20+ years and I've never seen the housing market like I have in the last 7 years.
Look at the stock market of FANGs since Jan 2011. Google has gone up 8x including splits. Amazon is up 11x. Facebook is up 6x since IPO. Netflix is up 15x. Apple is up 28x (including 7:1 split). Even legacy companies like eBay are up 7x. Microsoft is up 6x. There are a lot of regular employees who are extremely wealthy of the last several years. They are driving up the prices everywhere for housing. There is an insatiable amount of inordinantly rich tech workers that are ruining it for everyone. I'm one of them as well. So are you.
If you really want to do the right thing, go to the Midwest like Kansas City, with a good university and great fiber infrastructure. Or go to Detroit. But you won't because similar to NIMBYs, you're a "Not for my Startup" mentality thinks you need to be in SF to become a billionaire. Then you're part of the problem.
- drdeadringer 8y agoI actually am curious on this: What would you do if you had "the start-up dream", move as you prescribe to the parent comment or stay and "be part of the problem"?