Even SBF wouldn’t take that risk. Billions of dollars of personal liability against … the coastal commission lets you build 110% of the house you already had? Gotta do it a few times to get enough additional square footage to make it worthwhile…
The expedited permissions aren’t carte blanche, they’re pretty limited to rebuilding in place. Which I think you know since you’re agitating for looser regulations to allow the kind of development you’d prefer instead. Does the moral hazard work the other way? Should we worry about Strongtowns readers torching neighborhoods they want to rebuild?
> vast majority
Assessments are public record. Go poke around on the assessors map. There’s a fair share of low bases like my footnote said, but plenty of houses traded over the last 5-10 years, and plenty of people are paying 20-50k a year.
> take this opportunity
Again why does this disaster demand we also solve the housing crisis at the same time? We lost <1% of housing stock, it’s not like we’re rebuilding a leveled city. Work toward policies that that will incentivize the development you’d prefer in places it makes sense across the city, don’t be gross and seize on a crisis to try to impose the change you want.
> We lost <1% of housing stock, it’s not like we’re rebuilding a leveled city.
In a shortage, marginal consumers wipe out the consumer surplus. The new marginal consumer is now a multi-millionaire. Housing prices will spike dramatically in LA, in every neighborhood, for a decade.
That frictional pain is going to make the median person mad, and harm many peoples’ lives. We should talk again in a year when that new reality has settled in.
Even SBF wouldn’t take that risk. Billions of dollars of personal liability against … the coastal commission lets you build 110% of the house you already had? Gotta do it a few times to get enough additional square footage to make it worthwhile…
The expedited permissions aren’t carte blanche, they’re pretty limited to rebuilding in place. Which I think you know since you’re agitating for looser regulations to allow the kind of development you’d prefer instead. Does the moral hazard work the other way? Should we worry about Strongtowns readers torching neighborhoods they want to rebuild?
> vast majority
Assessments are public record. Go poke around on the assessors map. There’s a fair share of low bases like my footnote said, but plenty of houses traded over the last 5-10 years, and plenty of people are paying 20-50k a year.
> take this opportunity
Again why does this disaster demand we also solve the housing crisis at the same time? We lost <1% of housing stock, it’s not like we’re rebuilding a leveled city. Work toward policies that that will incentivize the development you’d prefer in places it makes sense across the city, don’t be gross and seize on a crisis to try to impose the change you want.