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Bay Area hammered by loss of jobs: Lack of affordable housing strangles hiring

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Re: Bay Area hammered by loss of jobs: Lack of affordable housing strangles hiring

#671

Earlier quoted context omitted.

That's kind of funny. East Hollywood is already pretty dense (not height-wise though) compared to surrounding areas. I can see from a parking standing point what the complaint would be but...I don't know, any new building in E Hollywood is an improvement.

Indeed, some folks prefer to live in a third world shit hole with skyrocketing rents.

Yup.

Then again, my assumption is this some old lady that has been in the neighborhood for a while. Her kids won't give a shit about the growth when they can live in or sell her house for a shit ton of money.

Re: Bay Area hammered by loss of jobs: Lack of affordable housing strangles hiring

#672
post #335

Earlier quoted context omitted.

I have lived in Texas. It absolutely sucks in many ways. No real cities (yes, I have been to Austin, doesn't count). Nothing compared to California when it comes to recreation, vacations, day trips, road trips etc. Acceptance of LGBT lifestyles. Very church oriented (I am a non believer). Low salaries, tech opportunities in Dallas and Houston are not comparable to the Bay.

>No real cities Erm...guess you don't count some of the largest metroplexes in the country as "cities", do you? >when it comes to recreations, vacations, day trips, road trips That's fairly accurate. We don't have a ton of touristy crap, but that's no big deal for me. >Acceptance of LGBT lifestyles Did you live in the country or something? Never seen a problem with it here. In any of the urban/metro areas it's no big…

>when it comes to recreations, vacations, day trips, road trips

>>That's fairly accurate. We don't have a ton of touristy crap, but that's no big deal for me.

I get what you're saying (though Texas definitely has a fair share of tourist traps). I think it's worth mentioning this is potentially a large lifestyle component for some (possible deal breaker too). The difference between California and Texas is vast.

Texas has extreme weather compared to the west coast and it should not be ignored. There is less geographical variety through the entire state, and what variety there is can potentially be very far (Dallas to Big Bend Park is an 8 hour drive!). If you enjoy the outdoors and outdoor activities and your only reference is California, you may be surprised in the summer when the temperature does not cool in the evenings like a coastal city (even on the gulf coast). The gulf coast water temperatures in the summer can be 90 degrees! A July beach trip in Galveston is not enjoyable and potentially deadly just from temperatures. No mountains or large points of reference can be dizzying. Living in an air-conditioned bubble for 8 months of the year can get frustrating. If you live in southern California, you can go from the beach to snowy mountains in the same day. You can drive an hour or two and be in some of the most beautiful coastal cities in the country, or wineries with some of the best wine in the country. You can go hiking in December without a jacket and you can go hiking in July and need a light coat. You can basically switch any month of the year and still be comfortable. Obviously there is some hyperbole in my examples but the main points stands.

It's worth mentioning that if none of that matters much to you, then you'd enjoy Texas a great bit. There is a ton of culture. Depending on the city, there is a mishmash of everything social you could want or imagine. Food is great and cheap (or expensive, they can suit any taste or appetite to spend money or not).

>Acceptance of LGBT lifestyles

>>Did you live in the country or something? Never seen a problem with it here. In any of the urban/metro areas it's no big deal.

I have a good friend who still cannot come out at work for fear of mistreatment - in the city. I agree that it's generally friendly and accepted in the cities but nowhere near the same as the west coast. I'm gay and I've lived in California and Texas and there is no comparison on the two in terms of acceptance. I would hesitate to hold my partners hand or come out to new acquaintances in Texas. Not so much in California (or the west coast in general). You may not see it but the pressures exists and the difference is real.

>Very church oriented

>>So? I'm an atheist and I've never had any problems with it. You'll only find a problem if you're actively combative with people about it. Otherwise most people don't care.

Agreed, I've never had problems with it, but it is more in your face. There are benefits to being atheist in Texas, travel is lighter and shopping/etc is much easier on Sunday mornings. I got asked what church I attend much more frequently. I've also witnessed more extreme views in Texas that I don't appreciate, but this is what shapes a person, so it's not all bad. One anecdote comes to mind: Driving to work at 7am and seeing a large line of people (maybe 100). Turns out they were all protesting abortions outside of a clinic. Normally I wouldn't think much about them but they held giant signs of unborn bloodied fetuses and encouraged their children to hold signs and yell violently as well (kids no older than 5, 6, 7). This scene affected me more than normal because a family member recently needed a late term emergency abortion which these people found despicable.

Anyway, I lived in Texas and found my way. I met some of my best friends there and know they will be there for life. I made do with hot and cold weather. I enjoyed the amazing food options and wonderfully low cost of living. It's central to the US so getting to the east or west coast is not a big deal. Airports are huge and you can fly a lot of places direct. I've seen some amazing storms in Texas, more lightning than I thought was possible, and some great sunsets.

I encourage people to keep an open mind about Texas. There are great people there and it offers a lot of opportunity, but it's not for everyone.

Re: Bay Area hammered by loss of jobs: Lack of affordable housing strangles hiring

#673
post #651

Earlier quoted context omitted.

Shouldn't we at least be talking about working remotely and why that doesn't happen more often? I would bet most people have to drive in primarily because there manager did it that way when he/she was in the developer role. Working remotely is friendlier on the environment and saves time commuting. It's also cheaper for the company and more easily scales as head count increases.

It's not just about work. Sports stadiums, bars, meetup groups, nightlife, concerts, comedy clubs, etc etc all involve bringing people into the city. Commuting is just part of the battle

Working remotely might give a town more years before they have to expand the highway due to rush hour traffic. They may work in the next town over too, so more diffuse nightlife, bars, etc... It's not a panacea, because of some of the activities you mention (stadiums), but I think it could help with infrastructure and reduce our carbon footprint.

Re: Bay Area hammered by loss of jobs: Lack of affordable housing strangles hiring

#674
post #461

Earlier quoted context omitted.

> If that's really such a waste then where are all the remote-only companies eating everybody's lunch? Maybe they are eating it? Facebook, Amazon, and Google just have a very large buffet and it would take a while for them to notice. Heck, I am taking little bytes (pun intended) every day ;-) But seriously, I believe that could be the next revolution in the economy. We had the industrial revolution, the technological…

Many players are already moving in the opposite direction. It doesn't mean that remote is not possible, but that remote is more challenging than colocation. Consider: agile frameworks at their core focus on improving communication, but remote increases the barriers to communication. For humans, online social contact doesn't provide the same benefits as as f2f. It makes depression worse, not better. https://www.ncbi.n…

f2f is important greed and there is problem flying someone over 4 times over in year. Heck even more. It's the idea that it has to be the default. I work remotely but when we brainstorm an idea we like to fly to a site and hang around there for a week, white-boarding and socializing afterwards.

Timezones make communications harder as well, etc.

However I'll take these downsides vs the upsides.

Re: Bay Area hammered by loss of jobs: Lack of affordable housing strangles hiring

#675

Earlier quoted context omitted.

Because that theory allows the person promoting it to cling to an assertion that markets are perfect and never produce a bad result, and anything bad that does happen must be the fault of a government which got in the way of the perfection of the market.

Yes, if there are two things that have been driven solely by laissez faire market dynamics in this country, they're mortgage credit extension and the construction of new housing in the Bay Area.

I know this is not reddit, but I smell the charcoal from over here.

Re: Bay Area hammered by loss of jobs: Lack of affordable housing strangles hiring

#676

Earlier quoted context omitted.

The runup in real estate prices is fundamentally driven by the huge amounts of money printing by the Fed earlier this decade. The Bay Area has just been the canary in the coal mine on this because the strong job growth and self-injurious housing policies caused the price pressures to show up earlier than elsewhere, but it will become an undeniably nationwide phenomenon soon enough. High real estate prices & rents are…

Why do you need this indirect theory when much simpler numbers like the disparity between increase of population and lack of increase in housing units are available?

This would explain a lot, but wouldn't explain the general great performance of assets all around, nor seems enough to explain that this effect is global.

There is a consensus that 'everything is overpriced', its just doesnt look like it will have a hard correction.

Re: Bay Area hammered by loss of jobs: Lack of affordable housing strangles hiring

#677

Earlier quoted context omitted.

If that's really such a waste then where are all the remote-only companies eating everybody's lunch? Has it not yet been long enough since remote working has reached some workable peak?

Maybe they're eating their own lunch. I'd bet if the metric is revenue-per-employee, 37Signals is probably kicking most of the bigger tech companies arses.

37Signals does not have a scale worth comparing to.

Re: Bay Area hammered by loss of jobs: Lack of affordable housing strangles hiring

#678

Earlier quoted context omitted.

Seattle is quickly becoming 'bay area'-ish from what I can tell. Housing is certainly becoming difficult at incredible rates. Here in Bellevue, a colleague of mine bought a house for ~400k, it's now worth well over ~500k only a year later. Many houses in that area also sell for at least 700k+ assuming you can even get an offer in before a cash buyer grabs it. Don't even get me started on the traffic. I run as many of…

Same in Portland. A house down the street was purchased for 180k 2 years ago and recently sold for 520k. And that isn't some outlier. It seems all anyone wants to talk about is how quickly home prices have inflated.

Im sure portland is getting a lot, but 300% market price increase in real estate in 2 years sounds like a lot.

Re: Bay Area hammered by loss of jobs: Lack of affordable housing strangles hiring

#679

Earlier quoted context omitted.

Same in Portland. A house down the street was purchased for 180k 2 years ago and recently sold for 520k. And that isn't some outlier. It seems all anyone wants to talk about is how quickly home prices have inflated.

It's funny that the Fed is still dreaming about having low inflation while the number one expense most people will have experiences rampant inflation.

I want to remark that its not inflation, its just regular demand shock to the market. Specially housing takes time to match the supply to demand.

Inflation is generalized increased of nominal costs, not particular to an asset, nor in 'real terms' which is what is happening here.

Re: Bay Area hammered by loss of jobs: Lack of affordable housing strangles hiring

#680

Earlier quoted context omitted.

What's indirect about the link between money supply and prices?

It can't explain shortages. If the price of one thing increases relative to the price of everything else (including the price of labor, i.e., how much you get paid) that cannot directly be explained by a money supply change. A shortage being caused by something else is a much simpler explanation.

What do you call shortages in this context?

Simple shock to demand can create shortages if supply is inelastic(which it is on RE in general due to the length to put a unit on the market, and it is so in San Francisco with its constrained supply)

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