Duh. She complained about gentrification, while failing to realize that her *entire career* is based on selling houses at ever higher prices
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Did no one surface this obvious cui bono?
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I asked her in public comment. She claimed she worked "very hard" for her house which is now 2.5X original price. $1.5M for sitting on it!
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Less that. How many houses has she sold at a 3% commission? What if they were 50% as costly?
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Exactly. 5 families funded her and Keller's campaign w $160K (?!) $160K for a dinky council race. Nuts.https://www.google.com/amp/www.mercurynews.com/2016/10/29/a-heated-fight-for-palo-alto-city-council/amp/ …
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Ain't dinky if you're a real estate brokerage that takes 1% of any rise in housing prices....
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Replying to @Kazanjy @kimmaicutler and
Fascinating question. How much incremental revenue does Alain Pinel make if there is no multifamily development in peninsula?
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Replying to @Kazanjy @kimmaicutler and
Commissions are earned per transaction, so general house price increases have a small effect. Number of deals / year is the chief factor
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Right, this. Most real estate agents I know are very pro-building because it gives them more inventory to close on.
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Palo Alto is an anomaly: http://modernluxury.com/silicon-valley/story/how-sell-and-sell-and-sell-silicon-valley …
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don't build anything & you have the highest grossing realtors in the country:https://www.paloaltoonline.com/news/2015/07/06/local-realtors-reign-in-national-rankings …
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