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San Francisco’s version of rent control lacks vacancy controls, which means landlords can re-set rents at whatever the market will bear when new rent-controlled tenants move in.
The logic is that with vacancy controls, landlords won’t invest in maintaining their properties. But the flipside is that the landlord also has a strong financial incentive to evict longstanding tenants who are paying below-market rates.
So every decade during a boom, there is a tragic, elderly face for the story of displacement.
How Burrowing Owls Lead to Vomiting Anarchists (Or SF’s Housing Crisis Explained) – TechCrunch
social.techcrunch.com
At the highest level of abstraction, there is a clear divergence in interests between productive capital and rentier capital. Developers make money when they build housing; landlords, on the other hand, collect more profit in cases where housing is relatively scarce. Many of the largest REITs are frank about this when speaking to investors: They openly celebrate housing shortages that give them the leverage to raise rents.
A YIMBY Theory of Power
thenation.com
The vast majority of what passes for social media discourse on fairly any topic is fairly aspirational (or cantankerous or plain nasty). Much of such discourse gets amplified to a degree not commensurate with the underlying sagacity.
Know How Your Org Works
copyconstruct.medium.com
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