It cost the San Francisco city government $323,071 to acquire or rehab a single affordable housing unit last year. Not build new, because that’s more expensive, but just acquire and rehab. 83,733 very low- to low-income households applied for 1,025 rentals in 2017.https://twitter.com/apmortgagemarin/status/1004728516922040321 …
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Yes. And there mas also much more federal and state investment in public housing construction. Both were forms of the government spending money to subsidize housing, producing a situation in which there were no waiting lists, and no street homelessness.
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Important to remember that suburbs made possible by federal highway spending, state-funded water projects, the GI Bill, and the mortgage interest deduction ARE government-subsidized housing.
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I thought a large part of the problem is affluent professionals moving back to the cities and driving up housing prices, forcing out people who rented while cities were cheap.
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There's definitely been a generational shift in affluent peoples' preferences for suburban vs. urban living, but rents are even higher in many of Silicon Valley's suburban tech cities than in core urban areas like San Francisco and Oakland.
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