"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!
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.
