@RFrances2 @AaronPeskin do you have a link?
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Replying to @kimmaicutler
@kimmaicutler@AaronPeskin Yrs of exp. Dev puts up $10, borrows $90 from pensions, banks, priv eq. Build @ $100;Sell for $140= 400% cash ROI2 replies 0 retweets 0 likes -
Replying to @RFrances2
@RFrances2 why do you selectively extract from the profits of one and not the other, esp when it's so insufficient for the situation?1 reply 0 retweets 1 like -
Replying to @kimmaicutler
@kimmaicutler Debt int usually fairly small part of dev costs. Let's assume 10% interest, or $9. Thus $40 profit -9 =31. Still over 300% ROI2 replies 0 retweets 0 likes -
Replying to @RFrances2
@RFrances2 SF property owners ROI is still much higher given last 5 years in appreciation, assuming 20% down.1 reply 0 retweets 0 likes -
Replying to @kimmaicutler
@kimmaicutler Fees associated with new build are b/c of new residents.When existing home sells for 4X more than purchase, no increase to pop4 replies 0 retweets 0 likes -
Replying to @RFrances2
@RFrances2 bc of Prop. 13, longstanding property owners taxes do not keep up with costs of providing public services.1 reply 0 retweets 2 likes -
Replying to @kimmaicutler
@kimmaicutler Prop 13 repeal is direct attack on middle class. Haven't gov policies destroyed many lives already? Want more tax $$:Tax rents5 replies 0 retweets 0 likes -
Replying to @RFrances2
@RFrances2 then bc property owners are insulated from housing shortages through capped taxes, they do nothing, aggravating the situation1 reply 0 retweets 2 likes -
Replying to @kimmaicutler
@kimmaicutler Lots of assumptions. Most SFers I talk to think city is crowded enough. As mentioned before, other 99 BA cities NEED TO BUILD3 replies 1 retweet 0 likes
@RFrances2 that's just an excuse. World is urbanizing. Paris is >2X as dense and it's gorgeous.
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Replying to @kimmaicutler
@RFrances2 there won't be a future CA middle class to speak of1 reply 0 retweets 3 likes -
Replying to @kimmaicutler
@kimmaicutler@RFrances2 Or an American middle class either.0 replies 0 retweets 0 likes
End of conversation
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