Amazingly, this SF VC says that it's building more housing that would make housing inaccessible to teachers.https://twitter.com/David_desJ/status/1123686232326905861 …
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Replying to @graydon_pub
Let's imagine that we allow four-story apartments by right in all of Palo Alto and the Sunset. Would that drive overall prices up in the Bay Area?
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Replying to @graydon_pub
Let's say we did nothing other than allowing any development up to 4 stories everywhere in those areas that housing is currently allowed. Do you think overall Bay Area prices would go up or down?
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Replying to @graydon_pub
Where's the currently-cheaper housing in Palo Alto? Also, where would the buyer of the new luxury unit end up living instead? Wouldn't they be willing pay something similar for an existing house?
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Replying to @graydon_pub
That seems neither here nor there -- I was asking a question about a single change to current policy. Furthermore, imagine perfect rent control. Everyone who wants to stay living there can. If we build no new buildings, no one can move in. But some people want to! Seems bad.
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You effectively can’t build any of that in California. It’s against Article 34 of the state constitution.
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Really? Fucking hell California, how much do you love landlords?!
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