I find it really funny that Texas is welcoming the tech bros now, because this is exactly what happens when the tech bros mix with an unregulated housing market.
It’s basically illegal to build apartments in most of the bay area other than a few tiny downtown areas. It’s changing in the last few years but still very difficult.
The problem is actually old “liberal” hippies who refused to allow development of new housing for decades. NIMBYs as they’re called. I’d say the hippies are mostly gone, but the refusal to build housing remains. Go to any other major city in the country and there are usually cranes everywhere. Not in California. Tech bros did bid up the limited housing supply for awhile, but now that prices are easily $3-5 million, they’re even getting priced out unless they were a founder that got an exit or just lucked into joining a company at the right time – NVidia for instance.
Yeah it’s been like that for awhile. Tech bros have been moving in swathes out of California because they only care about paying less taxes and buying cheaper real estate.
I find it really funny that Texas is welcoming the tech bros now, because this is exactly what happens when the tech bros mix with an unregulated housing market.
Unregulated? Clearly you don’t know the Bay Area.
How do you think the housing market is regulated?
It’s basically illegal to build apartments in most of the bay area other than a few tiny downtown areas. It’s changing in the last few years but still very difficult.
NIMBYs?
The problem is actually old “liberal” hippies who refused to allow development of new housing for decades. NIMBYs as they’re called. I’d say the hippies are mostly gone, but the refusal to build housing remains. Go to any other major city in the country and there are usually cranes everywhere. Not in California. Tech bros did bid up the limited housing supply for awhile, but now that prices are easily $3-5 million, they’re even getting priced out unless they were a founder that got an exit or just lucked into joining a company at the right time – NVidia for instance.
Yeah it’s been like that for awhile. Tech bros have been moving in swathes out of California because they only care about paying less taxes and buying cheaper real estate.