Inlay

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I’m thinking that the leaders of the California Association of Realtors are probably significantlyabove average for their profession in terms of intelligence and financial success, and that it’s these leaders that determine the policy positions of the group.

I think leading realtors' opposition to apartments in exclusionary single-family housing zones is often driven by a desire to maintain a preferred lifestyle, not by a desire to fatten their wallets further.

The cost was so low I figured it must be, but I would’ve loved for you to tell me otherwise!

I suspect the California Association of Realtors supports single-family zoning because its leaders are mostly older, wealthier homeowners who live in areas zoned exclusively for detached single-family homes. Like many wealthy homeowners, they want to block new homes in the areas where they live.

Like other wealthy homeowners, many want no apartments near their home, due to their fears of increased traffic, parking shortages, lower-income people, etc. I suspect many realtors value blocking change in their area more highly than a potential future increase in their incomes.

Realtors are such an interesting group. I have my theories, but can’t claim in-depth knowledge. I wonder how many scholars (anthropologist, sociologist, economist, etc.) have delved deeply into this tribe.

I’m guessing this figure might also cover just hard construction costs, and exclude land and soft costs.

Has the building actually been completed? Is the developer saying that $243/gsf is the actual total development cost for the completed building? Or is this just the projected cost that they hope to achieve?

Congestion pricing may also reduce crashes by shifting low-income motorists from driving to safer modes (transit, cycling, etc.) Low-income drivers are, on average, younger than the typical driver. Young folks drive more recklessly & crash more often. When I was a young motorist, I did!

"Piercy is one of almost 400 city fire and police department employees who earned six-figure overtime sums last year..." Costly code provisions drive up rents. SJ firefighters can afford provisions that add costs without adding safety. Ordinary families can't. Fire officials need to remember that!

10h

Patrick Siegman

In the long run, total development cost sets a floor on prices for new homes. Homebuilding is competitive. Builders typically earn a small profit margin (7-10%). If development cost is $157/sf, builders will add supply only if they think they'll be able to sell for $157 plus ~7% to 10%, or ~$172/sf.