The eye should learn to listen before it looks.
An incredible political and economic experiment is playing out within San Francisco and its metropolitan area. The tech boom and the hyper-gentrification associated with it are testing the resolve and character of the city in a way the city or any other major American city has never experienced…
We could end up witnessing a San Francisco that reflexively tightens up its tenant protections and votes overwhelmingly against condominium development projects… On the other end, the city could become a Manhattan-esque playground for the rich of haute cafes that serve $4 toast, a place where community development centers get evicted and replaced by fusion restaurants catering to the whims of the latest food trends.
I’m not advocating one solution or another, but NY’s building boom is probably THE ONE THING bloomberg allowed that made this stupidly expensive city affordable at all. Zillions of people are moving into SF. There aren’t that many places to move in to. What was going to happen other than send prices through the roof and make it unaffordable.
The same thing happened to Seattle. They build. Lots. And it stayed relatively affordable. And quite a nice place, to boot.
I know I don’t live there anymore, but i don’t think people are advocating tearing down the wonderful old painted ladies and whatnot. But as small as that city is, there are plenty of places to more apartments if they wanted to.(via rickwebb)
Agree. Building up will be vital to maintaining some degree of affordability. Praying that the city can move quickly enough to make this happen.
In today’s global economy, here is what is scarce:
1. Quality land and natural resources.
2. Intellectual property, or good ideas about what should be produced.
3. Quality labor with unique skills.
Here is what is not scarce these days:
1. Unskilled labor, as more countries join the global economy
2. Money in the bank or held in government securities, which you can think of as simple capital, not attached to any special ownership rights.