Hey you know what Palo Alto, build some more damn housing.https://twitter.com/mercnews/status/885537901064454144 …
Partner at @initialized. Previously @techcrunch. When life hands me lemons, I make tarte au citron.
You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more
Add this Tweet to your website by copying the code below. Learn more
Add this video to your website by copying the code below. Learn more
By embedding Twitter content in your website or app, you are agreeing to the Twitter Developer Agreement and Developer Policy.
| Country | Code | For customers of |
|---|---|---|
| United States | 40404 | (any) |
| Canada | 21212 | (any) |
| United Kingdom | 86444 | Vodafone, Orange, 3, O2 |
| Brazil | 40404 | Nextel, TIM |
| Haiti | 40404 | Digicel, Voila |
| Ireland | 51210 | Vodafone, O2 |
| India | 53000 | Bharti Airtel, Videocon, Reliance |
| Indonesia | 89887 | AXIS, 3, Telkomsel, Indosat, XL Axiata |
| Italy | 4880804 | Wind |
| 3424486444 | Vodafone | |
| » See SMS short codes for other countries | ||
This timeline is where you’ll spend most of your time, getting instant updates about what matters to you.
Hover over the profile pic and click the Following button to unfollow any account.
When you see a Tweet you love, tap the heart — it lets the person who wrote it know you shared the love.
The fastest way to share someone else’s Tweet with your followers is with a Retweet. Tap the icon to send it instantly.
Add your thoughts about any Tweet with a Reply. Find a topic you’re passionate about, and jump right in.
Get instant insight into what people are talking about now.
Follow more accounts to get instant updates about topics you care about.
See the latest conversations about any topic instantly.
Catch up instantly on the best stories happening as they unfold.
Person Woman Man Camera TV Retweeted Mercury News
Hey you know what Palo Alto, build some more damn housing.https://twitter.com/mercnews/status/885537901064454144 …
Person Woman Man Camera TV added,
Building housing is key but if it isn't affordable then only developers get rich and nothing changes.
It's $714K a unit to build in SF once you factor in land, labor, etc. Excluding 15% margin. You're still operating at needing
300-400K in subsidy per unit. And no one has figured out how to finance that. SF has done only $410M in affordable housing bond money since
The mid-1990s and the controller commission, which included non-profit Developers, found that only 14-17% and 17-20% BMR functioned for
Rental and condo projects in the city. Meanwhile, only 6,000-7,600 existing and new housing units are sold over all in the SF market per yr
And the California property tax system basically incentivized and enshrines speculative behavior into the real estate market (esp for
Existing real estate). It's the land owners, who just sit on their property holdings and gain appreciation for no effort on their part
While paying old tax rates indexed to the original purchase price of their property that profit enormously off this system.
Every year, the aggregate value of residential real estate (the vast majority of which is existing not new bc we avg <2K new units per year
While the population increases by 10K ppl per year) goes up by ~$130B
You do the math. Who is really appropriating wealth in this situation?https://www.bizjournals.com/sanfrancisco/blog/real-estate/2016/01/san-francisco-home-values-zillow.html …
Yes, the problem is systemic & more than just developers are appropriating wealth with skyrocketing housing costs. Bay Area housing
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.