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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Replying to @AlisonB916 @TommSciortino and
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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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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