Why is demolishing rent controlled housing to replace with affordable (and more) athena to Berkeley?
-
-
Replying to @WatsonLadd
Because it’s really expensive to build new housing and whatever the land prices, implied rent, necessary subsidy is almost certainly a lot higher than whatever a long-non assessed property that was built a long time ago’s carrying costs are.
2 replies 0 retweets 8 likes -
This Tweet is unavailable.
-
Replying to @LMKaplanPhD @WatsonLadd
The land value is going up in either case given population growth and California’s property tax/real estate system so I don’t know what to tell you.
1 reply 0 retweets 1 like -
This Tweet is unavailable.
-
Replying to @LMKaplanPhD @WatsonLadd
I think people do not understand how much wealth in Calif. basically gets passively absorbed into rising real estate values with minimal capture on the flipside to offset impacts to tenants bc of Prop. 13.https://www.bloomberg.com/news/articles/2018-04-09/home-values-are-rising-by-800-a-day-in-san-jose …
2 replies 0 retweets 3 likes
and then they also don't understand modern construction costs. It's $750K & >5 years of process to get one affordable unit done. That dwarfs the per capita cost of most other local govt programshttps://www.sfchronicle.com/politics/article/SF-mayor-convenes-summit-to-address-high-12932908.php …
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.