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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Pravda who wrote (3590)	11/12/2015 12:34:30 PM
From: Kirk ©	Respond to of 26788

Only the super rich can get this where they buy cheaply small businesses here, get it rezoned then put massive housing projects on the land and make gazillions. Relaxing zoning rules would help lower rents (in the longer term). But this will NEVER happen in San Francisco.Pravda Yeah, relax the zoning rules and I could easily cram 4 to 6 three story, $2M town homes on my land. Suddenly land worth $2 to $3M triples in value. The city would love all the extra taxes but my neighbors would hate the traffic and three story homes peering into their back yards. My back neighbor is an original owner, nearly 60 years in her home and probably with property taxes a tenth what I pay... like $1,000 for her vs $10,500 for me and $35,000 for a new buyer if she were to sell and they put up a new home. If she were to put 3 or 4 townhouses on her lot, maybe they'd collect $100,000 a year in property taxes! I fear (not a lot) eminent domain where the city deems it the good of the city to cease lots and put in high density units for the taxes.... but that is another issue. There is a reason we have zoning... and I think it really sucks how some can make a bundle converting single story small business lots to massive housing projects here in the name of "affordable housing" while destroying the quality of life with overcrowding.