Interesting that the estimated $235M in increased rents to tenants from bringing in 20K tech workers to San Jose is almost as much as the $339M/yr the city spends on unfunded pension liabilities for former employees who no longer work there. https://sanjosespotlight.com/san-jose-pension-plans-unfunded-liability-expected-to-soar/ …https://twitter.com/wpusanews/status/1138861019307040770 …
I'm pointing out a larger structural issue that I see repeatedly throughout the region, which is cities have a really deep structural mismatch between what the state allows them to collect in revenue and what they're obligated to spend and tech to an extent papers over that but
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also gets disproportionately priced into real estate values given the bifurcation of the labor market and then (the same) structural incentives preventing an adequate amount of housing to be built with jobs.
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