Silicon Valley's housing crisis, in one sentence

Re:Silicon Valley's housing crisis, in one sentence by mahyarm on Tuesday June 07, 2016 @08:33PM (#11859183)

All of those new buildings and people will result in a far higher property tax revenue base since they are new units not starting from a 1980s prop 13 tax base. From that you can build new schools, hire more teachers and police and develop more transit.

[ Parent | on HN ]

Re:Silicon Valley's housing crisis, in one sentence by palakchokshi on Tuesday June 07, 2016 @09:13PM (#11859325)

But that revenue will have to be saved for a few years before there's enough to build new schools with, hire teachers with, etc. Moreover there might be other budgetary needs that might want that money unless the money is tied to improving schools, streets, etc.

[ Parent | on HN ]

Re:Silicon Valley's housing crisis, in one sentence by mahyarm on Tuesday June 07, 2016 @10:02PM (#11859511)

That is a mismanagement problem there. Why would new permanent income flows not get allocated to support the new flows?

Municipal bonds backed by future property tax flows in the one of the wealthiest cities in the USA is pretty secure, so you wouldn't have to save for a few years.

[ Parent | on HN ]

Re:Silicon Valley's housing crisis, in one sentence by drwl on Tuesday June 07, 2016 @11:57PM (#11859895)

Even if you diagnose the problem it doesn't help with the symptoms. Infrastructure (i.e. transit, public institutions, etc) will not be able to support it in the short-term.

[ Parent | on HN ]