SB50 Opens Gentrified Neighborhoods to Working and Middle-Class Residents
California’s SB 50, with lead co-sponsors Senators Nancy Skinner and Scott Wiener, expands housing opportunities for working and middle-class tenants who have been priced out of cities. So why do many tenant groups oppose the measure?...More
“…The Chronicle reported earlier this week that tech companies have leased 2.2 million square feet of San Francisco office in the first three months of this year.
That’s enough space to fill nearly two Salesforce Towers. And that’s in only three months…”...More
“The program has already drawn investors to distressed areas of the Bay Area.
In Oakland, developer Patrick Kennedy is proposing 1,000 plus homes next to the West Oakland BART station. Once the area was deemed an opportunity zone, he was able to tap into capital that otherwise wouldn’t have been interested, he told the Business Times in November.
“It’s… a way to persuade the haves to invest in an area with the have-nots in a way that benefits everybody,” Kennedy said at the time.”...More
SF’s $3,690 median rent on a one-bedroom apartment is global peak
In mid-2018, an analysis that deemed San Francisco’s rents the highest in the world made international headlines. While the claim wasn’t entirely accurate, it provided a vivid illustration of how much market-rate rents have expanded in SF....More
SAN FRANCISCO (KRON) – Welcome to the Bay Area — where you (mostly, your rent) can only go up from here!
If you thought rent in San Francisco couldn’t get any higher — you were very wrong.
Apparently San Francisco rent has reached a new peak of $3,690, according to home and apartment rental app Zumper....More
“…THE U.S. HAS TWO HOUSING AFFORDABILITY PROBLEMS. RENT CONTROL WON’T FIX EITHER OF THEM.
The first affordability problem is that the nation’s poorest 20 percent have too little income to afford minimum quality housing without receiving subsidies. That’s not a failure of housing markets, …
The second, more challenging affordability problem is that over the past 40 years, the U.S. hasn’t built enough housing in the locations where people most want to live…”...More
Discoveries from a depressing scroll through Craigslist
Aa Bay Area renter, I often find myself diving into the darkest corner of the housing section on Craigslist to see if it’s worth moving out of my current rental situation....More
“…The potential impact of unlocking these tax benefits on long-term returns is massive.
For example, after 10 years an investor could see an additional $44,000 for every $100,000 of capital gains invested into an Opportunity Fund by December 31, 2018, compared to an equivalent investment in a more traditional stock portfolio generating the same annual appreciation…”...More