CactusBoyScout

CactusBoyScout t1_j30cjf0 wrote

That was part of a major lobbying effort that the NYTimes just wrote a big investigative piece on.

> Four years ago, betting on live sports was illegal in most of the United States. Now, fans watching games or attending them at stadiums are barraged with advertisements encouraging them to bet on matchups, not just watch as spectators.

> This transformation in sports betting started nearly a decade ago, at first with the explosion of wagering on fantasy sports. Then in 2018, the Supreme Court cleared the way for states to legalize wagers on live games. Today, 31 states and Washington, D.C., permit sports gambling either online or in person, and five more states have passed laws that will allow such betting in the future. Professional sports in the U.S. now are part of a multibillion-dollar corporate gambling enterprise.

https://www.nytimes.com/2022/11/21/briefing/gambling-sports-betting.html?smid=nytcore-ios-share&referringSource=articleShare

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CactusBoyScout t1_j2dyixf wrote

They’re both pretty big factors. Prop 13 strongly disincentivizes seniors from selling their family homes after their kids leave the house, for one thing.

It’s pretty normal in other housing markets for retirees to move to smaller housing when their kids are grown. The family home then becomes a home for a young family. So instead CA has a ton of older folks in massive houses because they’d actually pay more to move somewhere smaller.

Also if we loosened zoning you’d still have a ton of older people refusing to sell for redevelopment because their property taxes are capped at a few hundred dollars per year. So again it interferes with a lot of housing cycles.

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CactusBoyScout t1_j1qbwxv wrote

Reply to comment by HanzJWermhat in Track selected: Ice world by Miser

Yeah every ice storm would destroy every parked car if this was true.

I’ve lived in a place that gets ice storms regularly. You’d find your car covered in thick sheets of ice every time. Just had to scrape it off or wait for it to melt and you were good to go.

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CactusBoyScout OP t1_j0gt2gk wrote

My guess is she will revive the shelved proposal to mandate more dense housing around train stations.

Long Island's lawmakers got it killed last time it was proposed. But they were Democrats then. Now they have all GOP lawmakers who won't be able to use internal party influence to block it.

New Jersey passed a similar law and it's been very successful. They now build more housing than any part of the tristate region.

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CactusBoyScout OP t1_j0gss9w wrote

They're not unaffordable to everyone. People are renting all those market-rate apartments that get built. The vacancy rate is extremely low.

I already explained how it helps. It preserves more affordable housing by preventing gentrification of existing housing units.

And presumably these new buildings will also increase the affordable housing supply because 25% of the units will have to be set aside for lower income people... that happens with most new developments in NYC. 1/3 of the new units added over the last few decades have been permanently affordable.

Rents are never going to go down until the rate of construction surpasses the rate of population growth... or there's a mass exodus like during COVID. Otherwise our shortage just gets worse every year. And NYC has been growing in population 5x faster than housing supply has grown for the past few decades at least. In that context, new construction can only slow rent increases.

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CactusBoyScout OP t1_j0gmvss wrote

It doesn’t matter if they’re market rate or not. It still helps the overall housing market.

Even if you can’t personally afford a unit, as long as someone moves into it, that person is no longer competing with others for more affordable units.

Any increase in housing supply is positive.

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