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Vacancy taxes are good but not enough by themselves. S.F. needs more housing, including middle housing, three or four story buildings with multiple units. The m
by GalenErso 4y ago
Vacancy taxes are good but not enough by themselves. S.F. needs more housing, including middle housing, three or four story buildings with multiple units. The market dynamics that apply to shampoo and fridges apply to housing as well. Prices are elevated because of an imbalance between supply and demand. Supply must rise to match demand. Let investors and speculators snatch up new housing units, at least at first. Investors do not have access to unlimited capital. If $100B worth of new housing hit the market overnight, it would be impossible for investors to buy them all. Keep building housing until investors run out of money and normal people can start buying them.
- TedShiller 4y ago> S.F. needs more housing Always funny to see this taken at face value. SF doesn’t “need” housing. People want to pay less for housing. Not the same thing at all.
- Retric 4y agoS.F. suffers from insufficient housing, calling it a need is just a handy shortcut.
- TedShiller 4y agoDo they also suffer from insufficient Lamborghinis?
- Retric 4y agoNo, the lack of Lamborghinis isn’t causing problems.
- TedShiller 4y agoNeither is the lack of luxury housing
- Retric 4y agoLack of housing doesn’t mean lack of luxury housing. Actual issues with lack of housing include traffic congestion as people are forced into longer commutes.