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Originally Posted by llamaorama
I assume San Francisco would be just fine in the long run. The tech boom was making the city dysfunctional.
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Restrictive zoning was/is making the entire Bay Area dysfunctional
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It's such a spectacular place, while some tech bros who never really wanted to live there in the first place but were lured by the money will flee, there are probably a lot more people in other places who would totally relocate to the Bay Area if they could afford it.
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That would negate the effects of the tech bros leaving. Agreed SF is pretty spectacular.
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My concern would be whether local governments have gotten too accustomed to a certain level of tax revenue. A sudden exodus would cripple the budget.
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That's almost a certainty. No one really runs on cutting
spending, just cutting taxes.
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Those homeless programs would be much more affordable if there was a glut of vacant apartments that the city could pay bottom dollar towards rent vouchers for.
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Turning entire neighborhoods into warehouses for the most destitute will have externalities that go beyond the cost of securing housing, on a social as well as fiscal level.