It's so weird to me that it's the same neighborhood people who were students or worked at non profits could afford to move to 15 years ago. The past is a foreign country.
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1/5th of San Jose’s budget goes to pay off the retirements of people who don’t work there anymore.https://sanjosespotlight.com/san-jose-pension-plans-unfunded-liability-expected-to-soar/ …
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The troubling thing about SF is it took *this insane* of a tech boom to reduce our 5 yr forward looking deficits from $829M a year back in 2011 https://sfmayor.org/sites/default/files/FileCenter/Documents/108-MYR%20FYFP%20FINAL%205_3_11.pdf … to $644M/year by 2023 https://sfcontroller.org/sites/default/files/Documents/Budget/Five-Year%20Financial%20Plan%20FY19-20%20through%20FY23-24%20FINAL.pdf …
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Totally agreed, out funding mechanisms are broken—the inherent flaw with Prop 13, which didn’t provide any reasonable replacement—but conceptually the goals of housing stability and diversification of employment/entrepreneurship seem positive.
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We like investing in other parts of the country. Even while I became a housing advocate, I was also quietly traveling all other the Midwest and South for years (well before the 2016 election). I just think it would be a shame to become financially insolvent Carmel-by-the-Sea.
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