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
Cycles of tax revenue and govt funding. Yeah, OK so the Bay Area was temporarily more affordable for like 5 years.
-
-
... not to belabor the point, but there is some mixing & matching of data & time periods here. The bubble bursting was serious for Bay Area (2001+) but it wasn’t 40% of income back then & stock market tanked for everyone, hitting cap gains. 9/11 was a double whammy, not SV based.
-
Was trying to add historical perspective to talk of cycles. What cycles? "Not SV based" was part of my point. Much of the article applies across US, 9/11 as one example. Would have been better titled "Concerns about tax distribution" or "Unfunded pensions" than "peak CA."
End of conversation
New conversation -
-
-
My point was partly a question about what you meant by "every cycle" and what exactly is permanently "crammed down" by these cycles each time. Partly, it was to broaden the historical time frame and see if stepping back influenced/informed that perspective.
-
The piece feels to me like someone who stuck their toe in the water in california, historically speaking, throws around some numbers to make it seem more informed than it is, and declares for the 9000th time that California will soon fall into the sea.
- 10 more replies
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.
