The us-vs-them situation exists whether you like it or not. I have the means to purchase in SF and have not done so, not in small part because it would position my self-interest counter to so many in this city who aren’t as lucky as I’ve been. Every act of public policy creates winners and losers. Not acting just preserves the status quo of homeowners as winners and everyone else as losers. Feel-good-yet-practically-impossible suggestions like yours are effectively arguments in favor of an unlimited extension of this status quo.
You took a large gamble with a massive sum of money—what is literally a lifetime of earnings for most families in the US—and are now arguing that the city should continue to prioritize the positive outcome of your gamble over the needs of the hundreds of thousands in this city who are struggling to get by.
This leveraged gamble has been growing at a rate of 8–9%, and with typical mortgages here it’s reasonable to guess you’re seeing over a 12% return on that gamble annually as a result, after mortgage interest and property taxes. Pardon my complete lack of empathy for the hardship you might endure should your gamble only return 5%, were we to consider the needs of the rest of this city over your own.
You took a large gamble with a massive sum of money—what is literally a lifetime of earnings for most families in the US—and are now arguing that the city should continue to prioritize the positive outcome of your gamble over the needs of the hundreds of thousands in this city who are struggling to get by.
This leveraged gamble has been growing at a rate of 8–9%, and with typical mortgages here it’s reasonable to guess you’re seeing over a 12% return on that gamble annually as a result, after mortgage interest and property taxes. Pardon my complete lack of empathy for the hardship you might endure should your gamble only return 5%, were we to consider the needs of the rest of this city over your own.