That California NIMBY ideology is moving away from justifying land use controls in terms of externalities and towards arguments that economic growth needs to be restricted so prices don't rise and everything can stay the same is notable http://www.scag.ca.gov/committees/CommitteeDocLibrary/cehd080119Item01-John-Mirisch-073119.pdf …
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Not just office growth... due to local and state restrictions on infill housing, CalPERs invests in “value add” flips of apartments rather than infill production.
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