of land and labor? Or which one is more?
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i'm also getting more and more perturbed about the seemingly untouchable profits of developers.
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Replying to @RevClown @kimmaicutler
It's not that they are untouchable, it's that capital will go elsewhere if returns suck enough
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Replying to @eparillon @kimmaicutler
treasuries are returning <2%. europe & japan are charging to hold $ risk free. fuck em. someone will come
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to do that we need to make building housing less risky. Or else they'll take the terrible bond rates
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Replying to @eb4everyone @eastbayforward and
i would be very glad to trade time & entitlement risk for real MR affordability.
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yep! housing should be a boring utility with non-risky returns (that was me using wrong account before)
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tbh just fixing entitlement risk isn't enough to do that, need to rethink US real estate market.
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But entitlement risk is the lever we have to push. it could do some magic that is hard to predict.
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my problem with wholesale elimination of entitlement risk is that the developer will eat all of that savings
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who really eats the entitlement risk? Newcomers.
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