Good news for single-family homeowners in SF. Your neighborhood character will be protected & your home value will either continue appreciating at $300,000 per year or hold value during the inevitable crash. But if you're looking to stay long-term? Ya gotta go to the East Bay nowhttps://twitter.com/kimmaicutler/status/1004379162751012864 …
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If you're in industry, you can stay if you're executive level, but rank-and-file engineers will need to move to the East Bay or leave the region. Or you gotta make sure you're the master tenant on a rent-controlled property and be OK with a perpetual background risk of eviction.
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And if you can't afford the rent, you can apply for one of these housing lotteries, which are harder to win than it is to get into Stanford. Or you can overcrowd in unsafe conditions. https://www.nytimes.com/2018/05/12/upshot/these-95-apartments-promised-affordable-rent-in-san-francisco-then-6580-people-applied.html …
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Because the Bay Area is actually a wealthy, gated retirement community where all the property owners don't pay enough in property taxes and therefore the system must rely on mega-corporations to keep it and the state of California financially afloat.
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Replying to @kimmaicutler
All the property owners don't pay enough in property taxes? I think you should qualify this a bit.
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OK, fine. Based on when they purchased their home. 50% of the property tax revenues in Alameda & Santa Clara County come from people who bought after 2010. That's who is funding the schools basically.
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