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Will the market drop tomorrow?
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Rising Star
If local policymakers can cut through the rampant NIMBYism and the state can effectively repeal Prop 13, absolutely.
The biggest obstacle to making the Bay more affordable is the housing supply.
Rising Star
E1 I’m optimistic but you’re correct that it’s an uphill climb.
SF mayor recently was on some podcast talking about this. Supply is the issue, largely driven by a progressive (her words, though also mine) city council that is vehemently against new developments and potential gentrification
https://www.google.com/amp/s/www.sfweekly.com/news/mayor-criticizes-supes-for-obstinacy-on-housing/amp/
Ditch prop 13 entirely (no grandfathering), comprehensive re-assessing of property, eliminate low-density zoning reqs, axe rent-control.
Housing costs will drop across the state dramatically.
D1, I haven’t read the actual study, but seems in line with what economists see- it’s good for the short run and may have immediate impact on those fortunate to get ahold of a rent controlled unit (assuming it’s actually being given to those who need it, which is another issue), but long run it’s a distorting policy. I think the outcome would be different if we did this in combination with other things to ensure that supply is increasing and actually building affordable housing.
No
When the bay is 20 feet under water, inland real estate gonna pop! Buy now!
Rising Star
Only if all the great jobs go away
If some of the tech firms leave then sure