Earlier quoted context omitted.
Public housing projects.
You know, it's been a while since I left Potrero Hill, but I think that I heard the feds had taken over the public housing projects on the south side (you know, back where OJ Simpson grew up) because they were basically uninhabitable. What's the status on that? But you know, that's last generation projects. What's the status on today's "affordable housing" projects? Oh, you say it costs $750,000 in construction costs…
Average Rent in San Francisco Has Dropped $1k This Year
151–160 of 562 posts
Re: Average Rent in San Francisco Has Dropped $1k This Year
#152Earlier quoted context omitted.
Taxing unoccupied homes and apartments will fix things real fast.
It's such a simple solution which would never pass almost anywhere in the world
Berlin has such laws since 2014 and it is working poorly. Turns out that it is hard to get an overview of empty apartments. City government has to rely on other tenants reporting empty apartments.
Re: Average Rent in San Francisco Has Dropped $1k This Year
#153Earlier quoted context omitted.
Those landlords don't try to sell that small kitchen, they DO sell that small kitchen. When I was shopping for an apartment in SF 2 years ago there was no spot that did not have at least 2 other parties looking at it. There was no room for negotiation or to even take a day to think it over, if you walked away from it, there were 2 people right behind you to take it.
> There was no room for negotiation or to even take a day to think it over, if you walked away from it, there were 2 people right behind you to take it. Naive question maybe, but if demand is that high, why don't prices rise even higher to balance it out a bit? Presumably most landlords would prefer another hundred or two a month at the cost of a few extra days on the market?
Time is money.
Why hold out and continuously interview potential tenants, when multiple people are literally asking you to take their money?
Cash today is better than cash in a few days.
Re: Average Rent in San Francisco Has Dropped $1k This Year
#154Earlier quoted context omitted.
Taxing unoccupied homes and apartments will fix things real fast.
You mean add additional taxes? Presumably they are already taxed. Does SF have homestead property tax exemptions? Where I live property taxes are quite high, unless the property is owner occupied. The second homes and rentals subsidized the taxes of those who live here.
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Re: Average Rent in San Francisco Has Dropped $1k This Year
#155Earlier quoted context omitted.
How would that be done? If an address wasn’t claimed for a personal tax return for an owner or tenant, it gets a big tax bill?
So, in Florida, you declare your primary residence, and it is taxed at a much lower rate than other property. See ‘homestead exemption’. Other states use this term, but it means different things. WV, for instance, only allows the exemption for people above a certain age.
Same in Indiana. But the proposed idea was to tax more heavily all unoccupied properties, not merely "all properties other than one's primary residence."
Re: Average Rent in San Francisco Has Dropped $1k This Year
#156Earlier quoted context omitted.
On a semi related note, I've seen a lot more 'stop' and 'stop it' on the internet lately. Arguably the various forms of saying the same thing come and go in terms of what is commonly used, but I've been surprised to see such empty words suddenly so common. Personally I would be a bit embarrassed to just tell people to 'stop it' as to me it seems sort of childish, but apparently not everyone. It's strange.
Because it gets old listening to the same tired uninformed troupes from some random person on the internet that is just regurgitating misinformation. For people that actually live in San Francisco this is a real issue that affects our daily lives. Having some random person spreading more incorrect info is insulting and actually potentially harmful to the people that actually live here and have to pay those rents like…
I pointed out that you were wrong about Vancouver. You had no rebuttal. Living in San Francisco doesn’t make someone an expert on the Vancouver housing market.
Here’s 2020 data. Prices rose faster than inflation: https://assets.cmhc-schl.gc.ca/sites/cmhc/data-research/publ...
Re: Average Rent in San Francisco Has Dropped $1k This Year
#157Earlier quoted context omitted.
But they are using land productively as they are making $3100 a month off of a small studio. Also I doubt if raising taxes will result in anything more than them passing that cost on to the renters.
Raising taxes on the land owner will result in increased rents. Land owners are not in the business of giving money away.
Taxing unoccupied homes lower rents, obviously.
Also taxing income progressively discourages landlordism.
On top of that, taxing income in order to build public public housing lowers rents even more.
Re: Average Rent in San Francisco Has Dropped $1k This Year
#158> the weighted average asking rent for an apartment in the city, which currently measures around 2.3 bedrooms when counting a studio as having one, has dropped to $3,100 a month. Still too high. Was checking into apartment prices earlier in the year and it is amazing the number of landlords that will try and sell you on a “kitchen” that is a mini-fridge, tiny sink, microwave and a hot plate whilst still charging you…
To the BOS's credit, they are too busy trying to remove Zuck's name from the hospital he donated 70 million to rather than to focus on actual problems.
Re: Average Rent in San Francisco Has Dropped $1k This Year
#159Earlier quoted context omitted.
> unwilling to give up on their single family homes I think that expecting people to "give up their homes" is more than unreasonable. The reasonable compromise being that builders can build in more densely once the current owners sell it.
I think the point is: what if they don't sell it, at all? Kids move out of the house, parents retire at 65 and live to 85+. That's 20 years, a whole generation.
If the developer can get permission to build 3-5 story apartments on the lot, then their land suddenly becomes way more valuable than the single home ever was. Most retirees will gladly sell and live in luxury elsewhere. If a few don't, it won't make a difference.
Re: Average Rent in San Francisco Has Dropped $1k This Year
#160Dear SF, More apartments built will not help make housing more affordable for normal people. Learn about the NYC real estate market- even pre covid apartment vacancy was extremely high, and the true numbers are unknown because building developers are manipulating the market by releasing units slowly. With all the excessive inventory in NYC, you'd think that a normal person (defined by median income) could afford to b…
How about mixed-cost buildings? Some higher-cost "luxury" units whose price/rent subsidizes the lower cost "essential" units, where firemen, teachers, local people can live.