That's true. Housing is expensive because the city is great and people want to live here, but the direct results of expensive housing are harmful to the society (and high rent is a kind of giant tax on all economic activity, raising prices in shops, restaurants, etc.).
It would be a significant benefit to the people of SF if the western half of the city were significantly upzoned with a lot of new housing construction here and throughout the Bay Area, and ideally rent and house prices cut by something like half (gradually rather than in a market crash), so that more of the people necessary to run the city could afford to live here.
> (and high rent is a kind of giant tax on all economic activity, raising prices in shops, restaurants, etc.)
I’ve long pointed out to conversation mates IRL that for a technological civilization like ours, shelter costs are a straight deadweight, Tsiolkovsky rocket equation cost upon the innovation throughput that is the civilization’s lifeblood. In the U.S., healthcare pricing policies are as well, but that’s a different conversation. Both are stranded capital that need unlocking towards increasing the technological development pace.
But most people with mortgages are trapped like a monkey’s fist around a fruit in a jar, by the siren song of house appreciation.
I’d rather have fusion, life extension, solar system colonization, mind uploads and AGI sooner than be “rich” in real estate.
The purpose of capitalism is not technological advancement, innovation, or efficient deployment of resources. The purpose of capitalism is that rich people get paid for being rich.
If you believe otherwise, you will learn the hard way when you seek your reforms and find that none of the people spouting the high-minded capitalist rhetoric support the actions that would bring it closer to reality. In short, the monkey's hand isn't trapped. The monkey is masturbating into the jar. It knows exactly what it is doing and you will not be thanked for interrupting.
There are? I see the opposite trend (at least in US East Coast) - cities only have generic amenities, while all the unusual stuff is in the suburbs, where the the land is cheap.
For example, let's take a relatively common hobby of sewing. The two stores in downtown closed tens of years ago, and the only ones left are in the suburbs, unreachable without the car.
I think at this stage, the only advantage of city is bars, restaurants, and expensive clothing/jewelry. If you like something else, you are better off in suburbs with a car.
The jobs are in the city because the people are there, and the people are there because the jobs and other people are there. Empirically, both residents and employers prefer to relocate to the city.
The city is convenient and fun: it provides easier transportation, more amenities, more other people to engage with, more companies of all types to do business with, etc.
You ignore the fact that many European cities are much smaller than the North American mega city landscape and still have lots of jobs in those cities. But it's also easier to have safer yet walkable and publicly transportabel neighborhoods in a city of 150k or 300k than 3 or 10 million.
There's plenty of American cities from 50k-300k, that's not a uniquely European thing.
None of the jobs where I grew up were in the city (Allentown/Bethlehem/Easton, largest employers were all suburban campuses save for the electric company and some colleges. Even the hospitals were off the highway.).
All the fun stuff was in the city though, so that's where we'd go once you got a friend of driving age.
It would be a significant benefit to the people of SF if the western half of the city were significantly upzoned with a lot of new housing construction here and throughout the Bay Area, and ideally rent and house prices cut by something like half (gradually rather than in a market crash), so that more of the people necessary to run the city could afford to live here.