Hypothesis: The problem with only building luxury housing is that it's better by accounting rules to leave it empty, than to rent it out at non-luxury prices. I have some anecdata but not enough to draw a conclusion. /cc @WatsonLadd @kimmaicutler
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I’ve got a few friends into it and I look at everyone else I know and it’s like If everyone is so rich how come their parents had houses and they don’t. But I’m not claiming knowledge here. I’m really, really just asking a question here.
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Replying to @dakami @Tom_Hirschfeld and
Because the Californian system is designed to enable and augment economic rents collected by land owners via its property tax and zoning/land use laws.
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Kim-Mai Cutler Retweeted Daniel Kay Hertz
Maybe you should read this book, which I haven’t read but I have a good sense of the authors orientationshttps://twitter.com/danielkayhertz/status/965413936001675264 …
Kim-Mai Cutler added,
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