“The amount of fees that market-rate housing and office developers pay into the city’s affordable housing fund has plummeted 70 percent from the high in fiscal year 2015-16, declining from $111 million to $35 million in the current fiscal year.” https://twitter.com/markasaurus/status/1096830827906793472 …
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It’s important to remember that inclusionary housing took off because taxpayers themselves did not want to make a financial commitment to support affordable housing even as property values doubled every economic cycle over the last 40 years in the Bay Area.
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you'd think the argument from affordability advocates to build market-rate housing in SF would be to keep this from happening, but here we are
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This is all on
@JaneKim . She has destroyed the affordable housing marketThanks. Twitter will use this to make your timeline better. UndoUndo
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Unintended consequences of not having any firm knowledge on construction costs/lending, interest rates, and likelihood of a changing financial market. market doesn’t roar forever. The supervisors make decisions on “feeling” not realistic logic and knowledge.
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For those who think inclusionary units and LIHTC and similar units are not a solution - realists, I would say - your argument is unpersuasive. Indeed, the argument is aimed mainly at politicians who don't understand money or finance or else who are quitely pro-displacement etc.
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