Home prices may not appreciate – and they may even depreciate, remember 2006- 2011 – so what you think is a sure thing in 20 years may not be worth what you forecasted.
If you have too much house in your 50s and 60s and you think you are going to downsize later, downsize now. There are two good reasons for downsizing now. One, when you are younger you can handle the enervation, being drained of energy or vitality and fatigue of a house move, as well as the financial hit everyone takes when you move. Selling and moving could cost thousands of dollars and over 10% of the home value. You can handle that cost in your 60s better…
Introduced by Scott Wiener, a Harvard-educated attorney and state senator, SB 827 would effectively abolish zoning restrictions in Wiener’s district of San Francisco and for significant portions of the state’s most populous areas—and likely produce a boom in new housing construction.
So-called transit-rich zones would see local height limits lifted to anywhere from 45 feet to 85 feet—roughly from four to eight stories—depending on factors such as street width and station proximity.
Cities could build taller, but they could not require that buildings be shorter.
A majority of these rent-squeezed households—some 3.7 million—are in Los Angeles and the Bay Area.
“We under-produce by about 100,000 housing units every year, and we have a housing debt that’s growing,” Wiener says.
The most feasible way to pay off that housing debt, he believes, is to let developers build more units in concentrated areas.
Another bill placed a measure on the 2018 ballot directing nearly $1 billion a year to subsidize new low-income housing.
The ideal scenario for lowering the barriers to housing density near transit is to get more with less: more housing and affordability with less displacement and sprawl.
In San Francisco, some 70 percent support building more housing to alleviate cost burdens.
Wiener’s proposal is more aggressive: it would immediately up-zone nearly all of San Francisco, as well as South Los Angeles’s sprawling landscape of single-family homes.