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California cities also have many financial structural liabilities they need to cover. SF has $5.7B in unfunded pension liabilities. Berkeley has $650M, Palo Alto has a billion. So they need to attract things that produce tax $ to pay these off.https://calmatters.org/articles/california-retirement-pension-debt-explainer/ …
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but of course, building lots of office and no housing is terrible for affordability.pic.twitter.com/uttlzG7qKd
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this is a central dilemma for housing policy in America. We want housing to be both a good investment and be broadly affordable (which is impossible!)http://cityobservatory.org/housing-cant-be-a-good-investment-and-affordable/ …
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