Can you imagine moving to the Bay Area in the 80s? To grow up when land was still cheap, before college competition was cutthroat and unaffordable, when relatively simple competence could get you a solid job and VC/PE firms weren't plundering and incentivizing the latest 30-second attention-span app to reach $1B? It would be me living in Los Altos now, instead of the old rich people who I curse for refusing to die or…
> To grow up when land was still cheap People didn't think it was cheap at the time. The 70's had seen a boom in real estate prices, especially in California, due to the boomers moving into their home buying years. (And that was before Prop 13, which was a response to high home prices.) > the old rich people who I curse for refusing to die or reform Prop 13 and free up some affordable place to raise a new family. Sup…
Depends. If building housing were legal it would. Tokyo’s population has increased 50% over the last twenty years and property prices have been flat. If supply is allowed to rise to reach demand property prices don’t go up on a never ending spiral.