VCs, Investment bankers, REITs and the MARKET price real estate industry are massively funding YIMBIEs to push through market rate housing for the tech bros. Not in their own town- DUH! Of course they want bourgeoisie housing to be done in other places. Their profits are supposed to be internalized and the impacts and costs externalized. (See SVB bailout.)
How are they doing this? By paying millions yes millions to Sen. Weiner and Assembly member Atkins’ campaign slush funds t op dismantle government transparency laws and ridiculously and wrongly claim trickle down works in housing.
Preston and inner city communities advocates are actually more informed than some, er, substack writers because they have at least researched this issue and know that developer/VCs’ market rate housing will displace poor families. And that developers won’t pay the infrastructure costs and that tech bros will inhabit those new buildings.
But I see a bunch of millennials and Z guys here with thumbs up because they’re cool with getting a condo even if it displaces teachers and janitors.
VCs, Investment bankers, REITs and the MARKET price real estate industry are massively funding YIMBIEs to push through market rate housing for the tech bros. Not in their own town- DUH! Of course they want bourgeoisie housing to be done in other places. Their profits are supposed to be internalized and the impacts and costs externalized. (See SVB bailout.)
How are they doing this? By paying millions yes millions to Sen. Weiner and Assembly member Atkins’ campaign slush funds t op dismantle government transparency laws and ridiculously and wrongly claim trickle down works in housing.
Preston and inner city communities advocates are actually more informed than some, er, substack writers because they have at least researched this issue and know that developer/VCs’ market rate housing will displace poor families. And that developers won’t pay the infrastructure costs and that tech bros will inhabit those new buildings.
But I see a bunch of millennials and Z guys here with thumbs up because they’re cool with getting a condo even if it displaces teachers and janitors.