Techies concerned with solving the housing crisis in SF often make the case for building more, but maybe "increase wages" should be the main rallying cry.https://twitter.com/CityLab/status/1126670338698485760 …
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Replying to @saikatc
Median household income has almost tripled in San Francisco in the last 25 years. More wages are always good but if that’s just chasing the same housing, all the money goes into the pockets of homeowners.pic.twitter.com/aKiq8EqnUI
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Replying to @kimmaicutler @Hyper_lexic
How much of this has been due to a change in who is living in SF? Actually curious about this.
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Replying to @saikatc @Hyper_lexic
SF has actually been able to hold its $0-50K range steady over the last 15+ years because we do have deed/income-restricted units for that level. We don't have a way to produce deed/income-restricted units for middle-income however bc federal programs don't support it.pic.twitter.com/USBJXReqPc
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When you combine local subsidy with federal/state programs, projects end up trending toward lower AMI because that's what those programs support. If you want to do middle-income, it can cost more in terms of local taxpayer dollars bc of lack of state/federal support.
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Whenever the Bay Area has tried to do middle-income, you do have to rely more on market-rate to cross-subsidize. That usually has become highly politicized between low & middle-income advocates and so usually nothing gets done and we just hemorrhage more middle-class workers.
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de facto situation is... taxpayer subsidies for low-/very-low-income units, and market-rate (no taxpayer subsidies) to ease impact on the middle-class regionally. Or create a custom middle-income program, which @supervisortang tried to do but was watered down to ineffectualness
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