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If a large chunk of that goes to salary, and a large chunk of those salaries goes to SF's crazy-expensive housing...I think you know where I'm going with this.
by jogjayr 7y ago
If a large chunk of that goes to salary, and a large chunk of those salaries goes to SF's crazy-expensive housing...I think you know where I'm going with this. I'll admit I don't know what the actual numbers are, but if this thesis is true, the solution is right in front of them too - let housing become cheaper by permitting more construction. And possibly ending Prop 13. Mostly a combination of the 2.
You can see this in almost any labor-related expense in the Bay Area. Eating out is 30-40% more expensive than comparable metros, but you're not getting 30-40% more for your money. Ditto childcare, plumbers, electricians and other contractors, personal care, pet care etc etc.