If you came to San Francisco in the 1970s and 1980s "when it was cool" and are complaining about how tech has ruined the city and you're only paying a few grand in property tax a year on $2M+ in home equity, ask yourself... how does my city pay for things? https://t.co/aKTc21qCR0
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I agree with your point, and you're right about the dynamics. But I couldn't resist doing the math: 18K homes x 1,000 sq ft = 18 million sq ft
(but yeah, these 18 million sq ft of office space can easily fit 100K+ employees) -
Yes like 120K workers to 40K peoples’ worth of homes. And if you read the story, it looks like the 18.2M are *opening* while the housing is just permitted, meaning a large part of it will just fall through and not get completed.
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I'd argue the John Arrillagas of the world were the true beneficiaries of Prop 13, and any widowed aunts who still get to live in their house were a compensatory side effect designed to provide the illusion of public benefit.
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more homes are money losers for existing homeowners
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Big companies should rent larger office spaces, convert them to hotels and then lease them to their employees :) Here is your solution then

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Violates zoning
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Has a lot to do with what people will allow. There's rarely a lot of community opposition to office (although that's starting to change), but housing gets every interest group's attention. Even where there's community will, navigating all requests takes years.
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https://abc7news.com/live-sky7-5-alarm-fire-at-building-under-construction-in-oakland/4540188/ … The fact that people keep burning down new housing developments doesn't help either. Sends insurance costs through the roof and delays housing for thousands of people.
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@ByRosenberg So a city maximizing its economic position would have a small number of families living vampirically (and very well) on the backs of a very large commercial sector. That’s most of the Peninsula at this point. -
I'm pretty sure the financially ideal California city would just be an auto strip mall, with no residents.
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