Lengthy list of state and local officials announce their opposition to the #Prop10 rent control expansion headlined by former LA mayor @antonio4ca. Current LA mayor @ericgarcetti is in supportpic.twitter.com/WYGXXm2kCK
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this is vexing me... your argument is that if developers can't make as much money as the market allows, whatever amount that is, that they'll be losing money. why don't you invest some of your firm's portfolio in developing housing with a lower ROI than the top of the market?
investing in a completely different asset class than what you told your investors you'd invest in is probably fraud? You'd have to raise a dedicated real estate fund. But also, generally speaking, many VC firms are stewards of capital on behalf of orgs like pension funds which
We've covered this and it's silly. They wouldn't lose money unless local governments enact future extreme rent control policies, which assumes a politics in California that is literally impossible, in which developers and realtors are not at the table at all.
And, my tenants effectively have rent control, voluntarily, so it doesn't maximize my rate of anything. OTOH, my mom and brother both had to move to Colorado because they lived in non-rent controlled SFHs. Using me as an example hurts your argument.
Cost of materials and labor shortages kill profits. stop growth. @publicbankla @jillstewart @zrants @sf4sfsite @livableca @OrindaWatch @TheLeagueSF @democracynow @rhfranci @sfpublicbank @TomSteyer #MillenniumGate @occupymtc @StandUp4SF @publicbankla @7x7 @sfbos
So where does the next generation of Californians live? In your scenario, only the most resourced of them will be able to stay in a game of cruel musical chairs and a wider swath of the middle class will continue to hemorrhage out of the state.
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