495 karma · joined April 27, 2012
"Because the actual building they live in gets demolished to build another building"
This happens very rarely, people will literally revolt before a rent controlled unit gets demolished in the mission
So someone opposing more building in the mission falls into the first two categories and they are extremely selfish
Let me guess you write poems for a living?
A very small percentage of the construction overall that's happening in the Mission district and Potrero hill is creating all this anti development noise. Even in these neighborhoods developers just want to build housing in underutilized land..
like this laundromat: http://sf.curbed.com/2014/5/23/10095908/38-housing-units-pro...
or a graffiti lined warehouse: http://www.bizjournals.com/sanfrancisco/blog/real-estate/201...
http://www.pier70sf.com http://missionrock.org http://www.bizjournals.com/sanfrancisco/blog/real-estate/201...
Central SOMA up north and hunters point in the south, eastern neighborhoods will add 50k+ residents to SF in the next 10 years
http://208.121.200.84/ftp/files/Citywide/Central_Corridor/Ce...
http://www.bizjournals.com/sanfrancisco/blog/real-estate/201... http://www.socketsite.com/archives/2016/04/san-franciscos-hu...
This is very good news, my prediction is that this wave of supply is going to reduce the prices for a while. There is actually still a lot of space in SOMA/Mission Bay/Central Waterfront to build. New construction is all going to be condos rather than single family homes, people who want to live in single family homes and drive to Costco on the weekends (nothing wrong with that) will continue to move to Seattle or Portland.
Money is flocking to SF from all over the world through VC companies and mutual funds, still. It used to be VCs with previous exits who already live in the region but in the last 2 years a lot of dumb money coming in. At some point in the next 5 years Uber, Airbnb, Pinterest, Lyft, Dropbox, Slack, Palantir and Stripe are going to have exits, even if 3 out of 8 lives up to their potentials these exits are going to create a lot of potential home buyers. Facebook, Google, Apple and Netflix (yes, netflix) are going to continue growing their empires. If SF's city officials can pull it off, with the increased investments in public transportation eventually San Francisco is going to become a global A+ city. (https://en.wikipedia.org/wiki/Global_city)
Only a 'black swan' event can stop SF's medium term growth. We already had a 'black swan' event in tech in the recent history, burst of 2000, everyone is expecting a similar story here. It's the nature of 'black swan' events that if people are already expecting things to fall apart, the magnitude is much less. (https://en.wikipedia.org/wiki/Black_swan_theory)
How are property taxes calculated in other places in the world? Vancouver? London? Tokyo?
This is such a hard problem to solve, no one wants to force elderly people to move because of a bull real estate market, but you also need young hard working people in your city for economic growth. My solution would be to jack up the real estate inheritance tax and allocate that money for public transportation and affordable housing.
Marx's theory of History states that after workers gain consciousness against their capitalist bosses they are going to revolt (figuratively) against the system, capitalism will collapse and we'll end up with "the fifth stage of the history". https://en.wikipedia.org/wiki/Marx%27s_theory_of_history
Native Western European working class almost is at this stage right now, they have really powerful unions, high wages and big corporations pay high taxes.. There is a fair distribution of wealth. But an influx of cheap labor (refugees and immigrants) distorts this balance, and prolongs the transition to Marx's fifth stage of the history 'Socialism'.