4 ms·
> Population growth is another. The Bay-area population went up by ~2 million people between 1990 and 2020. Even if the income distribution remains the same, th
by amyjess 5y ago
> Population growth is another. The Bay-area population went up by ~2 million people between 1990 and 2020. Even if the income distribution remains the same, the number of potential diners who can afford an expensive meal goes up.
And with that, the housing situation in the Bay Area has seen rents skyrocket disproportionately high compared with the rest of the country. At least some of the cost of the meal goes to the restaurant baking in their increased overhead, which again, is higher than it would be in the rest of the country.
(and if Chez Panisse owns its space, you can exchange "rent" with "property tax")
- bcrosby95 5y agoNote that if Chez Panisse owns its space, it likely pays practically nothing in property taxes considering businesses benefit from prop 13 too.
- mannerheim 5y agoEven without rent or property tax, there's still opportunity cost. If they could make more money renting out the building than their business makes, it isn't worth it.