Yep, and we're adding uncertainty to the process because no one knows what the inclusionary requirement will be.https://twitter.com/jrivanob/status/741346289816764416 …
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i'm also getting more and more perturbed about the seemingly untouchable profits of developers.
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if you're going to challenge returns of devs you should challenge returns on land across the board.
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hard costs are just construction. I think it's about labour and very pricey subs right now
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let us once and for all remember that the actual labor tab has been declining for over a generation
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real wages for blue collar construction workers flat+ labor share of construction value dropping
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and when i've spoke to developers & GCs in SF they blame subs who have limited capacity & pricing power
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aren't subs also labor?
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i get that the capitalist finance model means chasing capital that's chasing big returns, but...
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have we considered what prices would look like if we didn't build in 8% annual returns for those fuckers
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