3 ms·
It turns out high cost of living areas cost so much because they have lots of desirable traits and not just because everyone's out to lunch.
by emodendroket 3y ago
It turns out high cost of living areas cost so much because they have lots of desirable traits and not just because everyone's out to lunch.
- kramerger 3y agoIn the case of SF is a little bit of both. Sometimes I wonder if half of the city is not owned by FAANG, so they can get back some of those paychecks they sent you.
- solidsnack9000 3y agoIn California, we see a variety of policies operating in concert to restrict housing supply. Tokyo is also a desirable place to live but they've managed housing affordability there much better. In California you have all of the following operating together to restrict housing supply: * Property tax policy that strongly favors not selling and not renovating; * Numerous private rights of action that people can bring against new developments; * State and municipal agencies with a wide variety of rules available to them that can serve as a basis for obstructing new developments; * Large areas of the state that have been declared "open space" by various towns and cities.