I think the random section about NY is irrelevant, but CA’s highly volatile tax revenue system, its long-term financial liabilities and how these two things intersect w/ the tech industry and land-use are mostly spot on.https://link.medium.com/gV9cFzLnZU
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Not sure what cycles you're citing. The bust of the first dot com boom meant lots of people who moved here for that left. The economy shrank, budgets too, but the Bay Area became more affordable. Long term, austerity here is more tied to decreased tax rates than economic cycles.
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Cycles of tax revenue and govt funding. Yeah, OK so the Bay Area was temporarily more affordable for like 5 years.
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