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by Moseman23
2967 days ago
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"The bay area has forever lost it's ability to produce cost effective housing." Strong statement, if slightly ungrammatical. I think this is a challenge to visionary thinkers and leaders to change the game. Engineering is one part, as is regulatory capture and regressive real estate laws and norms, weak state government in the state, and highly atrophied political participation. What could change that? I can think of one thing, and one thing only, that would "shake up" the status quo. |
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On the one hand, lots of people lose their investments and are forced to sell their land or take out loans to rebuild. You might be able to buy land or a damaged property for a good deal. Contractors would all be completely overbooked and the price to rebuild would likely be quite high for some time. Some who have never experienced earthquakes might get scared out of the region altogether.
On the other hand the houses that survive are now part of a much smaller pool of available, livable houses and there's still a lot of money in the region so I could see prices for these houses shoot through the roof.