End luxury housing in San Francisco.https://twitter.com/dgouldin/status/741383549463330816 …
if you want "affordable" you either have to dredge up *billions* in subsidies from somewhere or make *everyone* "take a bath."
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I think that's right. If you "miss" years of construction at then-market rates, you missed that amortization window.
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so either you have to cost innovate (micro units, labor-lite construction) or subsidize in some regard.
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