We've built a system that allows incumbent land owners to appropriate almost all land value gains in CA, whether https://twitter.com/pmarca/status/738057040153583616 …
real estate developers generally aim to make 20% IRR over 3-4 years. SF property owners have made 100% in the last 5.
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RE developers use funny numbers 2 minimize large gains.But I have less issue with them than landlords who are the real bandits
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