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fru-gal

San Francisco Residents 'sue Suburbs' Over Lack Of Affordable Housing

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Shame they still don't understand dynamics wrt 'affordable' housing. It wouldn't make any difference whether they build 3,150 apartments if sales still price-out locals. In a counterfactual world with constant price demand, a higher supply rate over time may still amount to a very small overall change to stock, rents and prices.

e.g. UK - if there had been 20% more builds every year for the past 25 years there'd be ~900k more dwellings (average has been ~183k pa). But total housing stock is approx 28m so the 900k would amount to 3.3% extra. There are debateable factors (relative sector supply, tenure, mix, elasticities, feedback etc) but in simple supply terms the price impact of a 3.3% supply increase would be a 3.3% lower price.

i.e. It makes little sense to try explaining the extent of rent/price increases via supply, or to think increasing it is the solution. I'd assume it's more or less the same in SF. The problems must lie elsewhere.

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San Francisco is NIMBY central. Suing the suburbs is a farce, when nothing is stopping the city itself from building more housing. This is just one more stunt pulled by politicians so that they can say that they're "doing something" when they're actually perfectly happy with the status quo.

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i'd never consider a property in San Francisco,

subsidence must be constant concern.

It's not so much subsidence that would worry me as the possibility of a critical failure to continue existing...

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