Seattle builds housing at 2-4X the rate that SF has done, has passed 2X the number of affordable housing levies that SF has, doesn’t have discretionary review and doesn’t tax production of new housing with $165K/unit in fees.https://twitter.com/hknightsf/status/1162376780864348161 …
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Reminder that the city’s Board of Supervisors just killed
@londonbreed’s attempt to remove discretionary review for 100% affordable housing by replacing it with a weaker measure.http://beyondchron.org/as-housing-crisis-worsens-sf-supervisors-play-politics/ …1 reply 9 retweets 60 likesShow this thread -
And then inclusionary got raised to a rate that sounded good, but actually just sent both more housing production (and gentrification) to Oakland instead, by Jane Kim in 2016 because it made new units less feasible: https://www.sfchronicle.com/bayarea/amp/Oakland-dominates-SF-in-housing-production-14295592.php …
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Replying to @kimmaicutler
There's a hypothesis out there that high IZ drives down land values... has anyone been tracking this since 2016?
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Replying to @kimmaicutler @TribTowerViews
I think most experts agree IZ drives down land values, eventually. Problem is how sticky expectations of land prices are and how low carrying costs are for recalcitrant owners
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Replying to @Marquseeee @TribTowerViews
There’s no predictable process in SF is the issue. It’s like we’ve handed control of the Fed Funds rate to the Mitch McConnell Senate.
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They’ll just raise it to sound good/be politically convenient w/out regard for whether it actually produces housing.
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