San Diego minimum wage increase (San Jose, Oakland: low income, to rent, condos)

[hitman619]

So if we increase housing, wouldn't that just mean more foreign investors buying up the inventory?
Like NYC I believe that San Diego is need of rent control.

[docmcstuffin]

Originally Posted by hitman619

So if we increase housing, wouldn't that just mean more foreign investors buying up the inventory?
Like NYC I believe that San Diego is need of rent control.

I'm talking about building more apartments, not just housing. Who cares where the landlord lives. If there is an oversupply of apartment, apartment rent will go down, which also will bring down condo's rent. Which in turn will bring down condo's prices, which would then also affect SFR rent and prices as well. Oversupply of apartments will affect rent the same, whether the landlord lives in China or San Diego. People who make minimum wage should not expect to be able to buy a SFR, but we should give them an affordable place to rent. Increasing supply will help EVERYONE's cost of living, while rent control will only help the few who got into the rent controlled unit.

[1AngryTaxPayer]

Originally Posted by hitman619

So if we increase housing, wouldn't that just mean more foreign investors buying up the inventory?
Like NYC I believe that San Diego is need of rent control.

It certainly means gridlock on our current infrastructure. Widening the 5 is going to take 20 years. At some point people will lose houses inter city just to widen freeways.

[docmcstuffin]

Originally Posted by 1AngryTaxPayer

It certainly means gridlock on our current infrastructure. Widening the 5 is going to take 20 years. At some point people will lose houses inter city just to widen freeways.

higher density also increase the feasibility of public transit.

[1AngryTaxPayer]

Originally Posted by docmcstuffin

higher density also increase the feasibility of public transit.

Another bullet train? How much is the one up North costing us? We can't even use it.

[aboveordinary]

Originally Posted by 1AngryTaxPayer

Another bullet train? How much is the one up North costing us? We can't even use it.

I'm pretty sure that poster meant public transit like trolleys and buses. The more dense and urban a city is, the more popular and desirable light rail and buses become. This can reduce the traffic caused by cars significantly.

[docmcstuffin]

Originally Posted by 1AngryTaxPayer

Another bullet train? How much is the one up North costing us? We can't even use it.

No, stick with what we already have planned would be a good start. Even better if we expedite it and add more density while we're building out the trolley system. Blue line trolley from downtown to UTC. Should be done in 2018. Then extend that through Mira Mesa by 2030. That should be enough public transit to start. Who said anything about bullet train? Talk about straw man argument. Show me one big city with high density that doesn't have public transit? LA is possibly the only exception. But LA is a massive sprawl and doesn't have very high density. Try and look at cities like Chicago, Hong Kong, NYC, etc for example. Even NoCal is getting wiser with BART.

You can go here to see what the city have planned: San Diego Trolley - Wikipedia, the free encyclopedia

[mysticaltyger]

Originally Posted by unspeakable

I agree with other posters. Officials should do less blaming on businesses for wages and start attacking landlords who are the ones benefiting as they continue to raise rent, forcing residents to leave. The minimum wage increase still is not allowing residents to keep money in their pocket but just give more to landlords or purchase homes at a higher inflated price. If these cities didn't have high rent it could help stop inflation nationwide.

"Attacking" landlords is just another band aid. If you were going to buy a rental property and had to pay top dollar for it, then of course you're going to have to charge high rents to cover your costs.

Rent control is a price ceiling on rents. Minimum wage is a price floor on wages. BOTH are band aids that DO NOT solve any of the underlying issues of high rents (supply/demand imbalance) or labor (also a supply/demand imbalance...too many people not qualified for better paying employment).

It's time to stop looking for easy, feel good, quick fixes, folks! The underlying problems will not be fixed quickly or easily and require a concerted, long term effort on the part of the citizens, schools, businesses, families, and I daresay, individuals themselves. Minimum wages (if not too high) and rent control (if not too strict) can put a lid on the greediest offenders at the margins, but that's all they can do at best...and that really doesn't get you very far. At worst, and this often happens, the law of unintended consequences take hold, and the people who are supposed to benefit from said laws often do not, and high costs are merely shifted from one group to another.

[1AngryTaxPayer]

Originally Posted by docmcstuffin

No, stick with what we already have planned would be a good start. Even better if we expedite it and add more density while we're building out the trolley system. Blue line trolley from downtown to UTC. Should be done in 2018. Then extend that through Mira Mesa by 2030. That should be enough public transit to start. Who said anything about bullet train? Talk about straw man argument. Show me one big city with high density that doesn't have public transit? LA is possibly the only exception. But LA is a massive sprawl and doesn't have very high density. Try and look at cities like Chicago, Hong Kong, NYC, etc for example. Even NoCal is getting wiser with BART.

You can go here to see what the city have planned: San Diego Trolley - Wikipedia, the free encyclopedia

We've tried the ride share, public transportation thing in our area before and it was by far faster and cheaper to simply ride my bike. I surely hope you don't want SD to look like Hong Kong? Egads.


Public transit good, increasing density in areas that are sfh bad.

Anyway, back to the min wage talk. Most economists agree that if the minimum wage had kept pace with inflation since its historical high in the 1960s, the lowest paid workers would now make more than $10 an hour. I know personally two businesses that will cut hours/head count if the wage hike stays.
http://www.nbcnews.com/feature/in-pl...cities-n190516

[NYSD1995]

San Diego doesn't really need more housing, it needs appropriate housing for it's demographics. We have an abundance of substandard single-family housing full of aging fixed retired income and low-income families in a city that is not growing, not attracting millenials, losing middle class families, etc. The future, IMO is more apartment density in core areas, but I don't see that affecting the price of for-sale housing because there is simply nowhere left to build single family homes.