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by fennecfoxen
1489 days ago
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As usual, the “speculators” and “out of towners” and others are convenient scapegoats, lest we have to face the underlying supply and demand and barriers to development. You want to have a monopoly on housing in a major city? I’d be hard pressed to point out an industry where that would be harder. You have literally millions of competitors. |
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The out of towners, who are mostly Blackrock, is just a fella with a spreadsheet tracking new dwelling approvals vs demand.
All the Bay Area has to do is approve new dwellings. The issue is the politicians are landlords with investment properties.