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
“…The law permits an investor to roll over capital gains — proceeds from the sale of stocks or a home, for instance — into an opportunity-zone fund. The fund can then put the money in a zone by investing in, say, a condo project or affordable-housing units.
An investor who keeps money in a such a fund for 10 years is able to exclude 15 percent of the original capital gain from taxation. And — potentially much more lucratively — the investor would not owe taxes on any gains that accrued if the investment increased in value in that time…”...More
“…California has a real crisis that it has rarely treated as such. It’s the housing shortage, which has given the state the nation’s highest poverty rate and nearly a quarter of its homeless population.”...More
Distressed America is Wall Street’s hottest new investment vehicle.
Hedge funds, investment banks and money managers are trying to raise tens of billions of dollars this year for so-called opportunity funds, a creation of President Trump’s 2017 tax package meant to steer money to poor areas by offering potentially large tax breaks....More
Addressing housing directly is cheaper than relying on cops and emergency rooms.
“…it’s cheaper to give homeless people homes to live in than to let the homeless live on the streets and try to deal with the subsequent problems.”...More
From Dec 4, 2015
‘When the lights go down in The City, and the sun shines on the Bay…’ Convergence, collaboration and community? JL
Dan Kopf reports in Price Economics:
Across the entire country, the proportion of people with roommates has increased from 6.8% in 2000 to 7.7% in 2014, a 13% increase. In San Francisco, the roommate rate went from 23.3% to 28.1% in this same period, an increase of 20.6%....More