Well who else are we going to blame it on????
Politicians are the usual target.
Moderator: Nicole Marie
"In San Francisco, one of the toughest places in the country to find a place to live, more than 31,000 housing units — one of every 12 — now sit vacant, according to recently released census data. That’s the highest vacancy rate in the region, and a 70 percent increase from a decade ago."
The reason? The city's pro-tenant, outdated rent control laws that make it difficult to raise rents or evict a tenant.
"Increasingly, small-time landlords are just giving up, like one who has left two large apartments on the second and third floors of her building vacant for more than a decade, after a series of tenant difficulties. It’s just not worth the bother, or the risk, of being legally tied to a tenant for decades.
“Vacancy rates are going up because owners have decided to take their units off the market,” said Ross Mirkarimi, a progressive member of the Board of Supervisors. He attributes that response to “peaking frustrations in dealing with the range of laws that protect tenants in San Francisco that make it difficult for small property owners to thrive.”
piqaboo wrote:Bad tenants are indeed a pain, but its hard for me to imagine that an empty unit , producing 0 income, is less of one. Wow.
If it costs you more to keep the tenants than to keep it empty, I can see the logic behind not renting it out.
Oh well, that explains it then, rich landlords gouging the little people.Giant Communist Robot wrote:I think in a lot of these cases the landlords might be wealthy anyway,
It's all about taxes.
pro-tenant, outdated rent control laws that make it difficult to raise rents
Oh well, that explains it then, rich landlords gouging the little people.
California grew at a slower rate from 2000 to 2010 than in any period since statehood in 1850, according to U.S. Census Bureau data released this year. Put another way: This is the biggest population slump in California's history.
Many middle class people are leaving the state for Texas, Colorado, Nevada and Arizona, where taxes and the cost of living are lower. In the past decade, 1.5 million more people left California for other states than came to California from another part of the United States, according to analysis from the Public Policy Institute of California.
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