5 ms·

Riffing on that, I wonder how much of Bay Area wages "do not pass go" and go pretty much straight to landlords.

by davidw 3y ago

fshbbdssbbgdd 3y ago
If they figure out how to reanimate historical figures with AI, I’m voting for Henry George.
- jjoonathan 3y ago
  Good luck. Rich people really like getting paid for being rich.
Barrin92 3y ago
a lot lol. When I relocated temporarily from Berlin to the Bay Area a few years ago I thought the pay raise was crazy. Then I saw that I'd almost pay 2k more in rent per month. And then I learned what friends with kids pay for schools and childcare.
- katbyte 3y ago
  When housing and commercial space gets expensive, EVERYTHING gets expensive
thereisnospork 3y ago
Probably on the order of a few to ~10 billion a month directly via apartments. Not counting secondary effects due to costs on business rent and wages to pay personal rent, nor tertiary effects like increased tax burden spent on homeless, subsidies for 'affordable housing', etc. est 1-3 million renters @ avg $1,000 /month excess rent over fair value due to government enforced shortages. Personally it boggles my mind how this isn't the single issue among the relevant voting bloc.
- Racing0461 3y ago
  > Personally it boggles my mind how this isn't the single issue among the relevant voting bloc. based on what i seem, not even the ultra woke social issues is enough to stem the bleeding of liberals away from treaudue in canada to someone willing to take on the renter industrial complex. real estate and perpetual renting seems to be the biggest issue of millenials onwards.
- CapstanRoller 3y ago
  >Personally it boggles my mind how this isn't the single issue among the relevant voting bloc. It is the single biggest issue, and is discussed constantly, but there are no "fight the landlords" or "lower rents and build more housing" options on the ballot. There's no one to vote for who could fix these issues, because the government is completely captured by those who benefit from high land values and rent extraction.
  - davidw 3y ago
    > There's no one to vote for who could fix these issues, because the government is completely captured by those who benefit from high land values and rent extraction. That's... not true. A lot of YIMBY groups are doing endorsements these days. Our mayor has shown up to our events. Get involved: * https://new.yimbyaction.org/ https://new.yimbyaction.org/ * https://welcomingneighbors.us/ https://welcomingneighbors.us/
callalex 3y ago
It’s funny how we like to pretend there isn’t an aristocracy and landed gentry here.
- Arnt 3y ago
  Pretend? Those landlords aren't that, they're companies like your employer. They borrowed money for the building and are living from the difference between what they earn and what they pay the lender. The lenders are often funds of some sort, "ABC US Real Estate A" or somesuch if it's managed by a company called ABC, owned in turn by other funds and some small individual investors. I probably own a bit of such a real estate fund, maybe $1k or $10k, not sure, I'd have to check. If you go all the way back and disregard small fry like me, the ultimate big owners are often pension funds. Landed gentry it's not.
  - 3seashells 3y ago
    Borrowed) They worked hard for this washing columbian snow and collecting exotic crystals. Some of them just extracted essential oils from dessert sands, landlording there, cursed with resources as.. a landed gentry.
  - jjoonathan 3y ago
    Owning a few slivers of a company doesn't make you nobility. Let's draw a few lines. Do you work for a living or own things for a living? In other words, which flavor of incentives is predominant in your life? Whenever a company pulls a Scrooge McDuck move, do you own enough shares that on net this benefits you or does it still hurt you like it hurts most? Do you have enough of a stock that it make sense to hire a lobbyist for a 10% chance of pumping its value by 10% (i.e. does lobbying look like an expense or an investment)? Do you always pay 30% income tax or sometimes pay 15% capital gains tax? For most of these "are you nobility" questions, you can draw a line on a net worth chart where the incentives and privileges are one thing below the line and a different thing above the line. Each question gives you a different line, but for the most part you and I are on one side of the lines and, say, Bill Gates is on the other. It's important to understand that the world is mostly owned by people who feel a structurally different set of incentives from what you and I feel.
3seashells 3y ago
Who are more often than not just the front of organized crime storing washed money..

Riffing on that, I wonder how much of Bay Area wages "do not pass go" and go pretty much straight to landlords.

by davidw 3y ago

Riffing on that, I wonder how much of Bay Area wages "do not pass go" and go pretty much straight to landlords.

fshbbdssbbgdd 3y ago

If they figure out how to reanimate historical figures with AI, I’m voting for Henry George.

jjoonathan 3y ago
Good luck. Rich people really like getting paid for being rich.

Barrin92 3y ago

a lot lol. When I relocated temporarily from Berlin to the Bay Area a few years ago I thought the pay raise was crazy. Then I saw that I'd almost pay 2k more in rent per month. And then I learned what friends with kids pay for schools and childcare.

katbyte 3y ago
When housing and commercial space gets expensive, EVERYTHING gets expensive

thereisnospork 3y ago

Probably on the order of a few to ~10 billion a month directly via apartments. Not counting secondary effects due to costs on business rent and wages to pay personal rent, nor tertiary effects like increased tax burden spent on homeless, subsidies for 'affordable housing', etc. est 1-3 million renters @ avg $1,000 /month excess rent over fair value due to government enforced shortages. Personally it boggles my mind how this isn't the single issue among the relevant voting bloc.

Racing0461 3y ago
> Personally it boggles my mind how this isn't the single issue among the relevant voting bloc. based on what i seem, not even the ultra woke social issues is enough to stem the bleeding of liberals away from treaudue in canada to someone willing to take on the renter industrial complex. real estate and perpetual renting seems to be the biggest issue of millenials onwards.
CapstanRoller 3y ago
>Personally it boggles my mind how this isn't the single issue among the relevant voting bloc. It is the single biggest issue, and is discussed constantly, but there are no "fight the landlords" or "lower rents and build more housing" options on the ballot. There's no one to vote for who could fix these issues, because the government is completely captured by those who benefit from high land values and rent extraction.
- davidw 3y ago
  > There's no one to vote for who could fix these issues, because the government is completely captured by those who benefit from high land values and rent extraction. That's... not true. A lot of YIMBY groups are doing endorsements these days. Our mayor has shown up to our events. Get involved: * https://new.yimbyaction.org/ https://new.yimbyaction.org/ * https://welcomingneighbors.us/ https://welcomingneighbors.us/

callalex 3y ago

It’s funny how we like to pretend there isn’t an aristocracy and landed gentry here.

Arnt 3y ago
Pretend? Those landlords aren't that, they're companies like your employer. They borrowed money for the building and are living from the difference between what they earn and what they pay the lender. The lenders are often funds of some sort, "ABC US Real Estate A" or somesuch if it's managed by a company called ABC, owned in turn by other funds and some small individual investors. I probably own a bit of such a real estate fund, maybe $1k or $10k, not sure, I'd have to check. If you go all the way back and disregard small fry like me, the ultimate big owners are often pension funds. Landed gentry it's not.
- 3seashells 3y ago
  Borrowed) They worked hard for this washing columbian snow and collecting exotic crystals. Some of them just extracted essential oils from dessert sands, landlording there, cursed with resources as.. a landed gentry.
- jjoonathan 3y ago
  Owning a few slivers of a company doesn't make you nobility. Let's draw a few lines. Do you work for a living or own things for a living? In other words, which flavor of incentives is predominant in your life? Whenever a company pulls a Scrooge McDuck move, do you own enough shares that on net this benefits you or does it still hurt you like it hurts most? Do you have enough of a stock that it make sense to hire a lobbyist for a 10% chance of pumping its value by 10% (i.e. does lobbying look like an expense or an investment)? Do you always pay 30% income tax or sometimes pay 15% capital gains tax? For most of these "are you nobility" questions, you can draw a line on a net worth chart where the incentives and privileges are one thing below the line and a different thing above the line. Each question gives you a different line, but for the most part you and I are on one side of the lines and, say, Bill Gates is on the other. It's important to understand that the world is mostly owned by people who feel a structurally different set of incentives from what you and I feel.

3seashells 3y ago

Who are more often than not just the front of organized crime storing washed money..