What’s Gonna Happen to Bay Area Housing?https://link.medium.com/tel8cKNT1W
My 1BR in Palo Alto was $1300 or so in 2010. I think it would have been $2k in the dotcom boom, but not sure. Anyway, I’m disappointed by SB50 too, but I’m more optimistic going forward, because it polls so well. Popular will typically isn’t suppressed for long in a democracy.
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Hoping for dot com correction is not good because it was such a huge capital misallocation (ie bubble). 2008 moved home prices more than it did rents. There was a great analysis that showed rents increasing 3% annually since 1950s, and IMO we just stall until meeting that trend.
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Of course, that rate of growth is still bad news for everyone besides incumbents, so the supply side reformers have much to fight for still.
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