SF has a tendency to make it very expensive and complicated to do anything here, which means you need a lot of $$ to show up or stay here. It then reacts apoplectically to this reality by proceeding to make things yet even more expensive and complicated. (Repeat ad nauseum).
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Randy at
@beyondchron has a good piece on how tech hasn’t really impacted neighborhood supervisor races at all over the last 20 years. People are pretty oblivious TBH.https://twitter.com/beyondchron/status/1148606673067683844?s=21 …Show this thread -
But the reality is that the city needs tech jobs to grow its budget, which has increased by $3 billion or 37% in the last four years alone. But it doesn’t want to add the housing stock, which means population has grown by 2% in the same time period. https://sfbos.org/sites/default/files/Overview_of_2019-20_Proposed_Budget_Final_06-10-19.pdf …pic.twitter.com/H7eI2nblqZ
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And obligations are growing fast enough, that even with that tech boom & growth, the city will still be running $644M deficits in the next 5 years. (It has roughly $10B in unfunded liabilities, both health/retirement.)https://www.sfchronicle.com/bayarea/article/SF-taking-steps-to-avoid-projected-future-budget-13509714.php …
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So given that no one wants to add housing but everyone wants budget growth, the city’s books get balanced on displacement of the middle/working class & tech gets blamed even though property owners (who have capped taxes) & city workers need it to keep a $12B budget in the black.
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That’s why you see crazy stuff like this. Another planning commissioner on the same commission, Dennis Richards, is very excited about a building that will bring 5,000 workers to SOMA. https://www.sfchronicle.com/business/article/SF-approves-massive-office-project-first-in-13952756.php …pic.twitter.com/OdWjDnLyoG
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But supporting enough housing to go with the 5,000 jobs in that building? Or state laws that compel the city build more housing? Nah. https://sf.curbed.com/2019/3/19/18271688/palo-alto-sb50-yimby-nimby-housing-california-wiener …pic.twitter.com/vJfLh5DsJk
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Or making the process go faster given that SF’s planning department is compelled by city law to review 5X as many projects as New York, a city 10 times its size? Nah.https://twitter.com/kimmaicutler/status/1148314615182270464?s=21 …
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A public official in SF understanding supply side housing economics? I guess there is a first for everything.
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she's more sophisticated than just calling it "supply side housing economics" ... supply side is itself too simplistic.
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