I'm just saying that market "logic" is never as simple as we'd like to think
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condos can be kept off the market (or at high prices) for years and hence not impact rents. 10% of rental units r
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Replying to @jonahowenlamb @kerobinso
do you have widespread evidence of that that is actually happening? And if so, perhaps the correct response would
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be to tax capital gains at sale or vacancy to disincent that behavior rather than stopping new rental construction
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Replying to @kimmaicutler @kerobinso
I never advocated stopping new construction of rentals
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but a decline in demand could be abt fewer highly paid renters hunting for rentals as much as more housing built
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Replying to @kimmaicutler @kerobinso
doesn't say how many live or want to live in
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Replying to @jonahowenlamb @kerobinso
ok, well if you don't want to build rentals for workers to live near where they work....?
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I share your concern about the condo-safety box-for-cash issue. But changing that requires Prop. 13 reform.
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I think that theory is overblown xenophobia. HOA fees and taxes are too high for condo as stash
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Replying to @kimmaicutler @kerobinso
of course, condos can be converted to rentals, so who knows
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