commented on Developers in San Francisco May Not be Interested in Building Lots of Affordable Houses
25% works because the cost comes out of the land, not from decelopers nor financers. But 25% is also about the limit you can get out of the land. See Ricardo and land economics. It's not heterodox, just forgotten by a couple generations of economists who grew up during a period of relatively low land value and probably some other underlying issues.
commented on When It Comes to Housing, San Francisco Is Doing It Wrong, Seattle Is Doing It Right, Cont.
@37, not that they don't matter but that if you look at the vacancy rate and you look at the no. of units getting built and the demographics, there doesn't seem to be a supply crunch due to zoning restrictions in Seattle. Not expecting much increased vacancy through additional upzones in Seattle doesn't mean I don't think zoning has an impact on supply -- just that we seem to have enough zoning supply and the vacancy rate we have now is better explained through greater hiring than builders anticipated.
San Francisco is a different story, which is one of the points of the article, too.