Bay Area cities want to end single-family home zoning
People are stupid if they think this will fix things.I went to the peninsula looking at houses and the new trend is to add ADUs as part of the house or in the back.You know why?To help the owners pay off their $3M houses they used to be $1M 8 years ago. This then figures into the calculus of how much you can afford to buy a house for. What is an unaffordable $8000/month mortgage now becomes $6000/month. So people keep bidding higher and higher.People in the Bay Area don’t realize that every little thing that keeps costs low gets funneled back into house prices. Interest on mortgage is tax deductible? Oh that means I can afford more house. The public schools are good? That saves me $3000/month so I can funnel that into the mortgage. Commute is shorter by 20 mins? That means $200/month extra I can spend on the house.There is no answer except for rich employers like Google and Facebook to spread out their headquarters across the world. Too many rich engineers with their stock going up 10-20x is what is fueling the housing crunch. Or create entire new cities along 280 where there is plenty of space. Invest in new cities, not try to cram more people in the same small area.