131–140 of 247 posts
Peter Thiel claims that the majority of capital poured into Silicon Valley startups ends up flowing to landlords. https://www.sfgate.com/expensive-san-francisco/article/peter...
Yep. VC -> Startup -> Employee -> Landlord. Everyone blames tech workers, but they're not the ones raising the prices. Most of their money disappears into rent.
They really undersold it. 800$ per day is what it earns in appreciation, but it earns even more when you rent it out. If you have a house on the penninsula, I'd say it's time to cash out and move to the midwest and retire. ;)
Dont forget tax benefits.
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Yep. VC -> Startup -> Employee -> Landlord. Everyone blames tech workers, but they're not the ones raising the prices. Most of their money disappears into rent.
startups also pay insane rent for their offices
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Not at all. Prop 13 only has effect when houses do NOT sell. Whenever a property changes hands, which is the only event that matters wrt demand, it is assessed at current market value. Prop 13 does have an effect but only in the manner in which it supresses sales.
It limits property tax to 1% which I believe is pretty low compared to other coastal states. Coincidentally, California's public schools have fallen down the rankings since it passed.
Last we checked, per-student spending in public schools was negatively correlated with student achievement, so the hypothesis that funding levels are unrelated to performance would appear to be on pretty strong ground.
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Won't school teachers' salaries grow in presence of diminishing supply and stable demand?
Proposition 13 imposes a fairly hard upper limit on the growth of teachers' salaries.
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There's an art gallery across the street from me. Many coffee shops and restaurants have locally created art for sale. There are all kinds of quirky performances on the street and in local businesses. I can't even begin to find time to attend all the live music shows I would like. Who are these other "culturally important folk" and why are they so important? Not denying they exist, I just don't know who you are talki…
I've never even been to seattle but i can at least tell you that grunge started there. Can you imagine a new genre of music starting in seattle now? Also, > There's an art gallery across the street from me. Many coffee shops and restaurants have locally created art for sale. There's a ton of those in SF, too. Gentrifiers enjoy the old culture and all its signifiers; that's why they moved there in the first place. (ID…
I’m not sure how to reconcile “all the artists are leaving” with “gentrifiers like art” and the presence of many forms of art all over the place. Which is it? Are artists not supposed to sell art? I really don’t get it.
Grunge didn’t really start here, it just blew up here. It’s more of a Pacific Northwest thing than a Seattle thing. If you ever come visit check out the Nirvana exhibit at MoPop (previously EMP), it does a great job explaining the evolution of grunge.
There are several local bands who are doing well on the national stage. The biggest is Macklemore although he’s not really my style.
The music scene in Seattle seems healthy to me, you can get a variety of shows any night of the week. The metal scene is supposed to be big but not my deal so I don’t know a lot about it.
I was at a backyard/underground wrestling show (hosted by a local band) last summer where the heel taunted the audience by telling them they’re a bunch of people who moved here 8 years ago and are mad at the people who moved here 5 years ago.
From where I sit Seattle has a multitude of healthy subcultures. It’s just fashionable to complain.
I have a pretty large group of generally geek-oriented friends across most of the western US, and tracking their migration patterns has been fascinating - we're basically all 1980's-born millennials. In the 2000's was when we met, those who had grown up there and those who were moving were in the same age group. Only about 40% were college educated or in tech/programming oriented roles. Of those, a small amount has r…
Maybe Colorado should implement some of what Hunter S. Thompson had in his platform for Sheriff of Aspen: 1. Rip up all city streets with jackhammers and sod the streets at once.... All public movement would be by foot and a fleet of bicycles, maintained by the city police force. 2. Change the name 'Aspen', by public referendum, to 'Fat City'. This would prevent greedheads, land-rapers and other human jackals from ca…
I'm sure there's 1000 economic and social reasons they can't be done, but damn if it doesn't sound good.
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It’s both. There clearly is a bubble. The Fed has essentially dumped easy money into the economy since the dotcom bust. 2008 saw another crash and again the spigots were opened. It only seemed to flow to certain areas though as top down economic policy tends to do. Now as the Fed raises rates, people can borrow less and thereby afford less. We may see zero percent interest rates forever and the government stepping in…
Prop 13 doesn't exist in Seattle, yet prices are rising as fast or faster than the bay (on a percentage basis). There the lesson is supply/demand - there is only 1 month or less of housing stock available, when 6 would be a historically median market. Everyone is going crazy to buy something as fast as possible before they get left behind. Absolutely though Prop 13 hurts liquidity in California though. There's a lot…
Seattle is catching up with the other big cities, but it's still lower cost. Especially given how new the buildings are.
And San Jose really is a really really boring suburb...