Even if you taxed all of Jeff Bezos' net worth to zero, it would compensate for a little more than 1 year of home price appreciation in SF. (I support more progressive taxation, but voters literally do not understand the scale of these problems.) https://www.bizjournals.com/sanfrancisco/blog/real-estate/2016/01/san-francisco-home-values-zillow.html … https://twitter.com/Austen/status/1133365603689934851 …
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Kim-Mai Cutler Retweeted Elizabeth Warren
Before I get more trolls claiming I don’t support progressive taxation, everyone should read
@ewarren and@dataprogress’ work on housing, which looks at wealth redistribution, a renewed role for social housing *and* fixing zoning and supply issues:https://twitter.com/ewarren/status/1128847545151741954?s=21 …Kim-Mai Cutler added,
Elizabeth WarrenVerified account @ewarrenSkyrocketing housing costs are squeezing families to the breaking point, and too many families are suffering from the legacy of racist housing policies. I'm proud to fight alongside@DataProgress for big ideas that will help us fix this crisis. https://www.dataforprogress.org/homes-for-all1 reply 4 retweets 100 likesShow this thread -
In contrast, Bay Area orthodoxy, which only performatively focuses on the first two parts, means we continue to have an absurd share of economic growth and creativity sucked into raw land values and token concessions that sound nice but don’t scale.
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Replying to @kimmaicutler
Have there been studies on prices if we immediately grew the apartment stock by something modest like 5-10%? I suspect since we're above-capacity, prices would fall by >10%.
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Replying to @Letstrythisag19 @kimmaicutler
The point is that it’s possible to build only a bit more housing and decrease prices by a larger amount than that (since some fraction of the population is apparently able to pay any rent amount). Likely wouldn’t have to double housing stocks to halve rents.
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the point is to do both deed-restricted affordable and market-rate. Not one or the other.
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