To actually fix the region’s housing and transportation woes, what might it cost?
If you combine Plan Bay Area 2050’s Affordable Housing funding gap , the Bay Area Council’s 2019 fix-homelessness estimate , and the ill-fated FASTER Bay Area transportation initiative , and discount it all to net present value dollars, you get about $300 billion.
Where could we find $300 billion? Parcel taxes and bridge tolls tax individuals, but per Joint Venture Silicon Valley, the entire household savings of the Valley plus San Francisco, excluding peoples’ homes, is only $750 billion. The reality is, individuals don’t have the money.There’s only one place that kind of investible asset exists: the corporate market capitalization of Silicon Valley and San Francisco, the economic miracle of the planet and driver of the world’s fourth-largest economy.
The Silicon Valley business model headhunts the world’s tech talent and brings it here to invent the future. We’ve generated incredible wealth this way — yet people are leaving. Maybe not software engineers and data scientists, yet. But have you tried getting a veterinary appointment lately?
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