3 ms·
Fun Fact: if three cities(San Jose, San Francisco, NYC) in America were to loosen up housing planning rules, America's GDP would be 4% higher, that is incredibl
by subsubzero 7y ago
Fun Fact: if three cities(San Jose, San Francisco, NYC) in America were to loosen up housing planning rules, America's GDP would be 4% higher, that is incredible in of itself, source: (paywall - https://www.economist.com/leaders/2020/01/16/the-wests-biggest-economic-policy-mistake?frsc=dg%7Ce https://www.economist.com/leaders/2020/01/16/the-wests-bigge...)
Although I think California especially needs new housing, the bay area in particular has a housing issue which is somewhat artificially created due to a number of large (google, facebook, etc) and smaller tech companies requiring a "buts in seat" mentality and a philosophy that all "important" jobs be based in the bay area near their HQ's. Its really quite sad as a job that can be done anywhere is forced to be located in one of the most expensive areas on earth.
- JMTQp8lwXL 7y agoPrices have hit their limits, and companies are more willing to entertain the idea that qualified talent exists outside of the Bay Area. Remote work is growing, and some portion of that growth is certainly attributable to the Bay Area housing market.
- rcpt 7y agoEnrico Moretti's research is great. In my opinion it makes a strong argument that the federal government should step in and tear down California's economic wall