What's crazy about this is that 1980 was SF's post-war population nadir and housing prices were still 'outrageous' by the standards of the day. And that was before DiFi's efforts to turn SF into a headquarters city had really taken off.
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I got there in 85. Everyone predicted this.
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did anyone ever visit this city in the 90s? it was nothing but old people telling you to get off their lawn
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Even in 1981, as I recall, people were complaining about getting priced out of SF.
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At a certain point, one has to accept San Franciscans knew what they were doing, proceeded to do it anyways, and continue to support these restrictive housing policies because they richly profit from them.
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I generally agree with you but in this case Rosen is perenially Bearish...literally. I took his real estate class: he’s predicted every downturn b/c he predicts every year to be a downturn
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