
SF millennials won’t be able to buy a home for 20 years, says survey - rajnathani
https://sf.curbed.com/2018/12/13/18139261/millennial-renters-homebuyers-san-francisco-apartmentlist-down-payment
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pontifier
Every dollar paid in rent increases the value of property in support of those
who already own it. It's a double whammy.

I myself benefit from this situation, but see it's vicious cycle.

As long as people keep paying rent, rents will rise and property values will
rise as well. It's not sustainable indefinitely, and I see problems on the
horizon as people change their priorities.

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rajnathani
The only direct variable which has an inverse relation to the vicious cycle is
the property tax rate, as higher property taxes increases the effective price
for property ownership. In California due to Prop 13, the property tax rate
(of ~1% of the initially appraised market value of the home) gets negated by
inflation, and it's further countered in regions such as the Bay Area by the
sustained increase in demand from the influx of residents and higher wage
growth.

