There may be individuals who think that, and they may be more common in other cities. But in London at least, I don't think it's mainstream
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when people underbuild here, it just sends more speculative capital through the existing tract homes & Victorians.
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like the Mission has several hundred BMR units in pipeline, but all other family sized housing is around $2M now.pic.twitter.com/NOxKzHjK1z
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Seems there's a good deal of California Exceptionalism I need to learn more about... But I'd say fostering that political will is crucial
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California real estate is a crazy asset class. Largest volume of federal MID subsidies, property tax caps, most restrictive zoning in US.
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