Externalities, + or -, Ignored or Unknown

In residential development, there are stakeholder actors:

Existing residents, owners§ Many of their goals and interests are to limit the amount of additional residents and to increase the price of their own housing. Both of those goals have been achieved to some extent. The Bay Area has the highest housing prices in the nation. The internal domestic migration from the Bay Area to other states and regions has been greater than the natural growth rate (births – deaths), since 2000, based upon Census data. There has been population growth due to immigrants. That high housing cost has increased some workers’ pay (albeit less than housing) and thus the cost of goods and services, including government. Higher housing cost also increases the cost to move to another Bay location, due to higher property tax costs (Prop 13). Also if a homeowner wants a house of higher value, it has now become proportionally more expensive.  Read more of this post