Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Marc Andreessen slams new multi-family affordable housing

fortune.com

Post reply on HN
Print view View original

1–10 of 141 posts

Re: Marc Andreessen slams new multi-family affordable housing

#3

Post by jwarden »

I have always wondered my community (Park City, UT) is spending money to build affordable housing rather then just paying subsidies to make existing housing more affordable. The estimated cost for the last development under consideration was something like $600,000 dollars for one unit, and that was a few years ago. I bought my market-rate condo at under $300,000 a few years before.

There are plenty of lower-cost units available, and subsidizing rent/purchase of these would allow a small benefit to be realized by a large number of qualified people, rather than a huge benefit to a small amount of lucky people who win the lottery that is used to allocate the small number of inits that exist.

Re: Marc Andreessen slams new multi-family affordable housing

#4

Post by karamanolev »

anigbrowl wrote: post #2

Well, he has just invested $350m in WeWork but for housing...

Probably way above median housing prices and also probably above market rate for the size. Guessing backed by some smarts / conveniences. Whoever wants to afford those - good for them. But we sorely lack affordable ones - no need to be fancy, luxurious or new, just affordable.

Re: Marc Andreessen slams new multi-family affordable housing

#6

Post by helloworld11 »

>“I am writing this letter to communicate our IMMENSE objection to the creation of multifamily overlay zones in Atherton,” wrote Andreessen and his wife Laura Arrillaga-Andreessen in an email. “Please IMMEDIATELY REMOVE all multifamily overlay zoning projects from the Housing Element which will be submitted to the state in July. They will MASSIVELY decrease our home values, the quality of life of ourselves and our neighbors and IMMENSELY increase the noise pollution and traffic.” The comment, which was originally reported by The Atlantic’s Jerusalem Demsas, was also reviewed by Fortune. Andreessen did not respond to either outlet’s request for comment. The other executives who opposed the 58 housing units also did not respond to or declined Fortune’s request for comment. Andreessen’s opposition seems to represent a shift from his expressed views in an essay he publish on his venture capital firm’s website at the start of the pandemic, titled “It’s Time to Build.” “We can’t build nearly enough housing in our cities with surging economic potential—which results in crazily skyrocketing housing prices in places like San Francisco, making it nearly impossible for regular people to move in and take the jobs of the future,” he wrote. In the essay, Andreessen also noted that his perspective was probably an uncommon one for someone of his ilk: “I expect this essay to be the target of criticism.”

The hypocrisy is delicious, and so typical of many ostensibly progressive tech magnates in California (and elsewhere). NIMBYsm at its peak.

Re: Marc Andreessen slams new multi-family affordable housing

#8

Post by mrep »

jwarden wrote: post #3

I have always wondered my community (Park City, UT) is spending money to build affordable housing rather then just paying subsidies to make existing housing more affordable. The estimated cost for the last development under consideration was something like $600,000 dollars for one unit, and that was a few years ago. I bought my market-rate condo at under $300,000 a few years before. There are plenty of lower-cost uni…

Prices are a little higher lately though. I paid $850k for my 650 square foot condo back in march. How big those $600k units?
Post reply on HN