San Francisco's currently seeing a strange political alliance between homeowners - who want their valuable property in the Bay Area to appreciate - and well-mea

San Francisco's currently seeing a strange political alliance between homeowners - who want their valuable property in the Bay Area to appreciate - and well-meaning progressive activists earnestly trying to alleviate poverty. Supervisor Peskin has built up a reputation for walking this line; for instance, he generally favors increasing affordable housing (BMR) requirements to very high levels. That appeals superficially to progressives, but also causes fewer units to be created overall, leading to ever-higher market rates and single-family-home values. It's really bad news for anyone who ever wants to rent in a market rate apartment. This proposed policy follows a similar vein. It subsidizes everyone else - both asset-rich homeowners from earlier generations and those barely getting by - at the expense of San Francisco's newcomers, who have no reason to support him anyway. Coming from Peskin, this move doesn't surprise me at all. Great to see renters (of all income levels) finally banding together in the most recent election: http://www.sfyimby.org/ http://www.sfyimby.org/