Calling it "centering" is itself zero sum thinking. We can welcome all sorts of people into SF, we don't have to pick. We just have to build a whole lot of housing.
Have risen from $1.3M to 1.6M in a single year, and then that ripples throughout the East Bay which is where much of the region’s middle and working class still lives.https://www.bizjournals.com/sanfrancisco/news/2018/04/26/construction-costs-killing-new-bay-area-housing.html …
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But also I think your analysis ignores how California cities and the state are basically structurally dependent on an ever wealthier set of newcomers. 50% of the property taxes are paid by people who bought in 2010 and after. The Bay pays for 40% of CA’s $95B income tax revenuepic.twitter.com/ThfbibCbmo
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If the industry slows or reverses, the state of California sees anywhere from $40-100B of losses, which means cuts to teachers, MediCAL etc. The cities can’t raise tax revenue w/out a 2/3s vote but their obligations are rising faster than the revenue increases. SF’s budget 2Xedpic.twitter.com/1hefvXTenC
End of conversation
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