This episode features Kim-Mai Cutler (@kimmaicutler) of Initialized Capital and Alex Danco (@Alex_Danco) of Social Capital.
They start out by talking about the huge rise in housing prices over the last decades in the Bay Area and the fact that there is now net-negative domestic US migration to the Bay Area. They discuss the reasons for this, including the fact that in California, property taxes are paid on the value of the property when it was purchased, not the market value.
They talk about land and property more generally and the fact that at one time in the past property was something that would produce something (like crops or livestock) as opposed to simply remain stagnant but appreciate in value.
They discuss the policies that have led to the housing crisis in the Bay Area and some of the current attitudes in the US towards housing that are counter-productive. They also talk about what would need to change for the housing crisis to abate, new forms of property rights, and why the financial crisis of the late 2000s didn’t fundamentally change anything about the overheated housing market.
Thanks for listening — if you like what you hear, please review us on your favorite podcast platform.
Check us out on the web at villageglobal.vc or get in touch with us on Twitter @villageglobal.
Venture Stories is brought to you by Village Global, is hosted by co-founder and partner, Erik Torenberg and is produced by Brett Bolkowy.
