$281,690: What a San Francisco house would cost with less regulation.
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Date: February 14th, 2017 8:33 PM Author: Nighttime cumskin
http://realestate.wharton.upenn.edu/research/papers/full/802.pdf
"San Francisco is a relatively high physical construction cost market, but that is not what makes its homes cost so much. The self-reported price associated with the median price-to-cost ratio in this market in 2013 is $800,000. That HP/MPPC=2.84 implies minimum profitable production costs of $281,690. Using the fact that MPPC=1.46*CC from Section II, we can further impute that physical construction costs for this unit were $192,938. 25 That leaves a ‘free market’ land price of $48,235. Stated differently, that is what we think the underlying land would cost in a relatively unregulated residential development market."
(http://www.autoadmit.com/thread.php?thread_id=3526442&forum_id=2#32623562) |
Date: February 14th, 2017 8:35 PM Author: Nighttime cumskin
By the way, you're fucked if you're not in the 90th to 95th percentile.
http://i.imgur.com/fTkW0PS.png
(http://www.autoadmit.com/thread.php?thread_id=3526442&forum_id=2#32623583) |
Date: February 14th, 2017 8:42 PM Author: Nighttime cumskin
"California’s housing shortage costs the state more than $140 billion per year in lost economic output, including lost construction investment as well as foregone consumption of goods and services because Californians spend so much of their income on housing."
http://www.mckinsey.com/global-themes/urbanization/closing-californias-housing-gap
(http://www.autoadmit.com/thread.php?thread_id=3526442&forum_id=2#32623655) |
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