I think the conclusion might be that game-changing policies that could make a real affordability difference may never come.
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Replying to @conorsen
The lesson should be that the way out of this impasse is not through grand silver bullets but through piecemeal compromises that address the concerns of both sides.
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Replying to @ernietedeschi
Right, if you’re willing to put in the years. If you’re 29 or 32 it might not happen when you need it to happen.
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Replying to @conorsen
It was naive to think that a bill that didn't take seriously the objections of key Democrats would pass a state legislature that is 2/3 Democrat in both chambers.
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Replying to @ernietedeschi
But will addressing those concerns water down the bill to the point that it doesn’t pack a punch?
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Replying to @conorsen
California's probably past the point where it can pull solely market-based levers to get out of this economic & political impasse.
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Replying to @ernietedeschi @conorsen
What is your alternative, Ernie, price controls on what they can sell new units for? (Have to imagine “affordable housing” also triggers nimby objections)
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Replying to @NickRiccardi @conorsen
Price controls on market-based housing don't work well because they water down the incentives for private developers to build in the first place. I might start w/ this
@PplPolicyProj idea, maybe do a hybrid tit-for-tat deal of social for market housing.https://peoplespolicyproject.org/2018/04/05/a-plan-to-solve-the-housing-crisis-through-social-housing/ …2 replies 0 retweets 8 likes -
Replying to @ernietedeschi @NickRiccardi and
I'm not in love with the idea of social housing for its own sake but if a dose of it can break the political economic stalemate then it's well worth any risks IMHO
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Replying to @ernietedeschi @NickRiccardi and
I enjoy your optimism that our state’s highly volatile tax revenue system with something like $11-16B in rainy day funds to cover the $40-100B in deficits during a moderate to strong recession and $400B-ish in unfunded pension liabilities will increase the $1B-ish or so it spends
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On low-income housing will be able to increase that sufficiently to produce more than token numbers of deed restricted social housing units!
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Replying to @kimmaicutler @NickRiccardi and
Since California doesn't control its own currency, it should offset any social housing spending with lower spending elsewhere or higher revenues. The snarky take is that it being California, a tax hike will undoubtedly be more popular than easing market housing restrictions.
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Replying to @ernietedeschi @NickRiccardi and
Have you seen........... any one of the last 30-40 years of tax restrictions baked into the state’s Constitution?
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