Not the existing set. The tribe is literally creating a moat that their parents started digging with Prop 13.
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Replying to @slightlylate @dakami and
And the existing set doesn't see or feel these dead weight losses accutely. Imagine you moved here 10 years ago and bought a house then; how is life *not* good for you now?
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Replying to @slightlylate @muni_d1 and
Retention among the 10 year ago set is not amazing. Every day the executive balance shifts, if only because the companies are *bigger* and there's more executives in absolute numbers.
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Ah, but here's the subtle thing: if your firm already has a bias towards Bay Area availability, you get 2 sorts: those who will put their families in a shoebox (or do without families), or the existing set. Prices for both are lower than Pareto-optimality under solidarity.
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Replying to @slightlylate @dakami and
And in an area and discipline that can't talk frankly about inequality, the patina of meritocracy and rational choice creates structurally bad outcomes for all.
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Replying to @slightlylate @muni_d1 and
The whole weirdness of the non-company town is an assumption that if only the company would get out of the way, the municipality would come together to do things fairly. What *actually* happens is the existing homeowners conspire against the future ones.
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Replying to @dakami @slightlylate and
To say nothing about the renters. And *eventually* the population of future homeowners and renters *is* the workforce for companies. Even their executives. Who will thus, inexorably, either take political power -- or leave.
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I think that last point tries to prove too much -- at least when there are multiple employers willing to pay similar wages.
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Replying to @slightlylate @dakami and
Housing is rival and substitutable for the length of a commute. Cupertino isn't awash in housing because FB and Google engineers could buy it too.
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But they overlap. Luckily, our shitty infrastructure is bringing the walls closer to each employer.
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