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by epistasis
19 days ago
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The only reason SF seems inaccessible is that the prior generation down zoned and said "no more housing here, we don't want growth." Which worked out well for them but robs young people and immigrants of climbing the same ladder they climbed. Building new clusters of expertise and economic opportunity is extremely hard, nearly impossible, everybody has been trying to replicate the Bay Area's tech success for decades and even with the housing problems it simply hasn't happened anywhere else. It's far easier to remove the law on the books banning housing than it is to build an ecosystem of any economy from scratch in a new area. We don't need any new cities, we need to allow existing areas to grow. If every city blocks housing, then even that new area is going to be blocked from growing as it grows. We must stop everybody in their tracks that thinks it says "I don't want new housing or neighbors near me" because that is the literally robbing of our young people and of society of opportunity. |
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I'd add more nuance here, SF and many of the surrounding areas said we don't want population growth but they didn't say they didn't want economic growth. And that's a nasty combination for cost-of-living because if you have new higher-grossing, higher-paying businesses displace older ones, you're going to see a crapload of residential displacement and housing inflation.
SF didn't want to be Manhattan residentially, but they didn't do much to try to avoid being Manhattan industrially.
People who rented in SF got screwed because of that.
People who owned property didn't. They made out wonderfully. They kept their property, with the existing characteristics in many places so that they still had a nice big SFH instead of living in a condo like in Manhattan. And the fact that it's worth ten times as much is hardly a downside to them!
Sure, that plot of land would be worth even more if you could build a giant tower on it, but that increase in value is much less marginally useful or desirable to them than their home and neighborhood staying more or less the same shape.
If you want to change that, you have to be really specific about the incentives and the motivations of the current players. "Economic growth" as a sales-pitch alone doesn't resonate against entrenched non-financial NIMBY interests. Or necessarily promise anything to change the property-owner-vs-renter power imbalance.