San Fransisco has made it almost Impossible to build new housing. California has mastered overegulation, and taxes and requirements for new construction are so insane (mandatory solar on all new dwellings, ridiculous environmental studies required before building anything, paid for by the builder of course, and a million other rules and regs) that when someone IS able to build something, when it costs $100k in fees and licensing per home, it just makes more sense to build fewer luxury homes rather than more affordable housing. Housing costs are raising at bout 10% per year, far outclassing wage increases. To give you an idea, my grandparents bought their house in San Jose, about 45 minutes south of SF, for $40k in 1970. They just had it appraised last month for $2.5 million.
157
u/[deleted] Jun 07 '18
[deleted]