here (net) per year in the last upcycle. I don't know what to tell you. We have to build more housing.
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how about help stopping the bleed-out? busy as ever
@TenantsUnionSF w/ insane tenant harassment2 replies 0 retweets 1 like -
yeah and don't build anything and shit's going to cost 2-3M the next time around. Just wait and see.
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there is a finite upper bound ffs. We've reached it in SF. Boston was amazing in the 2001 meltdown
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Replying to @JimYoull @kimmaicutler and
yr missing the reality that far fewer have $2M than $1M. Prices don't climb when props don't sell
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median time on market is still < a month in SF at those prices.
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prices doubled. They cannot double again. The wealth dies not exist to support that
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prices have doubled every up cycle since at least the 1980s http://www.paragon-re.com/3_Recessions_2_Bubbles_and_a_Baby …
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Replying to @kimmaicutler @JimYoull and
it's not just the wealth. It's that there's no inventory. Turnover has dropped dramatically over the
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Replying to @kimmaicutler @JimYoull and
last generation bc there's no real financial incentive to sell CA real estate unless you have to.
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you get basically flat taxes forever under Prop 13, ever rising rents w pop growth, no addl supply
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the tax thing is fucked but AirBNB+ shady co duct has removed more than has been built - easy fix
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Replying to @JimYoull @kimmaicutler and
won't rise to infinity - ppl will just leave as is already happening in measurable numbers
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