As the economy bounced back, job growth – especially high-paying jobs – concentrated on those cities.http://blogs.wsj.com/economics/2015/07/31/big-u-s-cities-lead-the-way-in-economic-recovery/ …
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Replying to @rolandlisf
But California's budget was still in tatters https://en.wikipedia.org/wiki/2008%E2%80%9312_California_budget_crisis … and cuts had to be made http://www.dof.ca.gov/redevelopment/
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Replying to @rolandlisf
Losing Redevelopment cut around $1 billion in funding for affordable housing, in a critical time when demand spikedhttp://www.bizjournals.com/sanfrancisco/print-edition/2015/06/26/sf-structures-affordable-housing-funding-trust.html …
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Replying to @rolandlisf
SF reacted quickly with Prop C in 2012, which created the Housing Trust Fund, as developers/activists compromisedhttp://www.sfhac.org/policy-advocacy/affordable-housing-trust-fund/ …
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Replying to @rolandlisf
What did developers get? The on-site inclusionary housing requirement was cut from 15% to 12%:http://www.bizjournals.com/sanfrancisco/print-edition/2012/06/22/developers-nonprofits-compromise-on.html …
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Replying to @rolandlisf
Three years later. Rents are spiking. Evictions are heartbreaking. Job growth still sizzling. Venture capital still flows, bubble be damned.
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Replying to @rolandlisf
SF – and the entire Bay Area area – needs more housing resources. But the state and federal governments won't help (see before) Where to go?
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Replying to @rolandlisf
Developers. That's why the 2012 bargain may be tossed.
@JaneKim: 25% affordable@AaronPeskin: More rent control http://www.sfexaminer.com/supervisors-seek-to-expand-rent-control-raise-inclusionary-housing-requirements/ …6 replies 2 retweets 2 likes -
Replying to @rolandlisf
@rolandlisf what if 25% kills housing production going into a downturn? Tech market already softening.1 reply 0 retweets 3 likes -
Replying to @kimmaicutler
@rolandlisf then nothing will get produced when land is cheap and we'll be in the same mess on the next up cycle.1 reply 0 retweets 2 likes
@rolandlisf correction: cheap(er) or flat. It's never cheap.
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