has become an attractive investment for foreign investors who can ride the wave and continue to jack up the rents of residents who live in
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the area. http://www.sfchronicle.com/business/networth/article/More-U-S-homes-bought-by-foreign-residents-8344394.php … There is much work to be done & this won't be solved anytime in the near future. Meantime those who don't
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have any savings or have the financial security to remain will continue to be displaced or will be forced to relocate our community.
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Replying to @millerkevinc @ClaraJeffery
Yes but many ppl blame Developers as the primary source of the problem when they *cant* functionally subsidize all the add housing that ppl
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Want. If we're building <50% of the units that we need to just maintain pop. Growth and can only generate 400 units BMR/yr out of
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If people want something else they probably need to reform property tax and make existing *and* new real estate a less attractive place to
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Store capital, which is a major cultural shift in US psyche that I don't think the majority of currently alive voters is willing to consider
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People would rather blame Developers rather than examining their own complicity in having a house that's worth 10X as much as when they
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Replying to @kimmaicutler @ClaraJeffery
I probably could have said more than just developers in my original reply because yes there are many parties involved that are to blame for
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the situation we are currently in. Prop. 13 was the catalyst event, followed by the decimation of HUD in the 1980s, then everything else you
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They're sadly related. Taxpayer revolt validated Reagan's position, who just scaled it to the national level.
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