The Bay Area is a battle between platform capitalists vs. neo-feudal property owners with generationally inheritable low property tax rateshttps://twitter.com/sama/status/889185753346875393 …
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This is already a problem. If Brisbane approves hotel/office only for its 684 acres on the southern SF border, it will make net $7-8M/yr
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But if it does 4400 units of housing like the developer wants, it will only make $1M net in tax revenue under the current rules.
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But it will worsen the jobs housing imbalance because cities will make so much more tax revenue from approving office over housing.
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