Which part of the Bay Area do they represent? This sounds unusually high to me. What I see more of is people just moving or planning to move back into their parents’ homes when they have kids and doing some ADUs, expansions to accommodate.
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Replying to @kimmaicutler @soopa
Even ADU’s are unaffordable these days here. We are trying to relax our regulations on them and still being told they don’t pencil by developers.
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Replying to @JessicaJackson @soopa
Unit costs are generally $200-300K from what I’ve seen, which is still like half the price of building a new unit in a mid-rise condo building outside of SF.
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The IPO boom has to wait until the holding period is over. You can’t sell your shares for 6 months - so too early to see the actual impact.
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I really don’t think people are factoring in how money only goes half as far since all the real estate is 2X as much as it was when FB/Twitter went public while employee option pools are smaller than they used to be plus Lyft/Uber are way more capital intensive businesses....
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