To be fair, giving local communities the right to seize private property from landlords and redistribute it to renters would have protected them from in-place gentrification. But I doubt anyone can get that passed through Sacramento.
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Replying to @TommSciortino @reedm and
Cities could take property by eminent domain for affordable housing. The problem with that is that prices are very high, and people would scream, “We’re going to spend how much?!”
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Replying to @AlisonB916 @reedm and
Yeah. Communities don't have that much money. They'd have to raise taxes to astronomical rates to make a dent in the gentrification process and even then, you'd end up with an exclusionary neighborhood where new people can't move in.
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Replying to @TommSciortino @reedm and
The state could fund it by eliminating the mortgage interest deduction, but then you’d face the wrath of the real estate industry.
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Replying to @AlisonB916 @reedm and
I doubt even that would do it. You'd have to get rid of prop 13. Which granted, I am totally in favor of scrapping.
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Replying to @AlisonB916 @reedm and
Which would build about 10,000 affordable housing units in the bay area. Not bad, but that's not even enough to house Apple's new office workers.
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Replying to @AlisonB916 @reedm and
Well look, I'm not saying don't do it. I'm with you!
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Replying to @TommSciortino @reedm and
I understand. I look longingly at that pot of money. But I’m not inclined to spend it on Apple workers anyway. I want to spend it on low-income people first. There’s a 300k-unit surplus for above 100% AMI in CA now, although they may not be in the right places.
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RHNA is a joke. If you’re producing 1/3rd of the requisite housing units needed against overall population growth and are basically largely reliant upon inclusionary to fund BMR, of course you’re only gonna be 14-15% affordable.
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Replying to @kimmaicutler @AlisonB916 and
Is there a utopian formula for the perfect mix of household incomes at all? I mean: is RHNA quantitatively a joke? or categorically?
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Replying to @thomas_lord @AlisonB916 and
The mix is fine. The total units against expected and real population growth, and the reality of funding mechanisms against moderate, low-income and very low-income housing units are not.
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End of conversation
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