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I thought building tons of apartments and kicking people out of stable living situations was supposed to decrease rents. Apparently the investors/builders have

I thought building tons of apartments and kicking people out of stable living situations was supposed to decrease rents. Apparently the investors/builders have a price floor they cant go under else the situation becomes financially unviable. Also - it would appear that several of these new builds are having a tough time filling units at luxury prices. Who knew?! I thought if we just kept building the market fairy would magically lower prices everywhere.

stale2002 10y ago
But... It IS decreasing rent. The people living in these apartments are getting a good deal. They wouldn't be able to live here without this kind of deal. And every 4 of these new grads living in a 2 bed apartment, is 4 people NOT gentrifying the mission.
beatpanda 10y ago
This is that exact process in action. It is happening exactly as proponents of new construction suggested it would. This is all good news.
beatpanda 10y ago
Also, I'd love to hear more about how building a high rise on what used to be a parking lot involves "kicking people out of stable living situations"
- yonran 10y ago
  Indeed, none of the new buildings that Homeshare advertises displaced any residences. It’s a common misconception that construction in San Francisco displaces housing. It was true during Redevelopment, but it is not the case with the past couple decades of construction. • 1222 Harrison St was a bus depot[1] • 340 Fremont St used to be a few “institutional” buildings including the “Seafarer’s Union” building[2][3] • 1010 16th St aka Daggett Project was a paint factory[4] • 1333 Powell St, Emeryville aka Parkside Project was a couple office buildings and large parking lots[5] [1] http://www.socketsite.com/archives/2012/12/the_massive_plans_for_the_shortsited_soma_site_at_8th_a.html http://www.socketsite.com/archives/2012/12/the_massive_plans... [2] http://www.socketsite.com/archives/2012/09/340_fremont_scoop_permits_pulled_for_400_foot_tower.html http://www.socketsite.com/archives/2012/09/340_fremont_scoop... [3] http://sf-planning.org/sites/default/files/FileCenter/Documents/24-2000.1081E_Rincon_Hill_Plan_EIR_Part_1.pdf http://sf-planning.org/sites/default/files/FileCenter/Docume... [4] http://oewd.org/daggett-project http://oewd.org/daggett-project [5] https://www.youtube.com/watch?v=ZZkY04cvzUE https://www.youtube.com/watch?v=ZZkY04cvzUE

stale2002 10y ago

But... It IS decreasing rent. The people living in these apartments are getting a good deal. They wouldn't be able to live here without this kind of deal. And every 4 of these new grads living in a 2 bed apartment, is 4 people NOT gentrifying the mission.

beatpanda 10y ago

This is that exact process in action. It is happening exactly as proponents of new construction suggested it would. This is all good news.

beatpanda 10y ago

Also, I'd love to hear more about how building a high rise on what used to be a parking lot involves "kicking people out of stable living situations"

yonran 10y ago
Indeed, none of the new buildings that Homeshare advertises displaced any residences. It’s a common misconception that construction in San Francisco displaces housing. It was true during Redevelopment, but it is not the case with the past couple decades of construction. • 1222 Harrison St was a bus depot[1] • 340 Fremont St used to be a few “institutional” buildings including the “Seafarer’s Union” building[2][3] • 1010 16th St aka Daggett Project was a paint factory[4] • 1333 Powell St, Emeryville aka Parkside Project was a couple office buildings and large parking lots[5] [1] http://www.socketsite.com/archives/2012/12/the_massive_plans_for_the_shortsited_soma_site_at_8th_a.html http://www.socketsite.com/archives/2012/12/the_massive_plans... [2] http://www.socketsite.com/archives/2012/09/340_fremont_scoop_permits_pulled_for_400_foot_tower.html http://www.socketsite.com/archives/2012/09/340_fremont_scoop... [3] http://sf-planning.org/sites/default/files/FileCenter/Documents/24-2000.1081E_Rincon_Hill_Plan_EIR_Part_1.pdf http://sf-planning.org/sites/default/files/FileCenter/Docume... [4] http://oewd.org/daggett-project http://oewd.org/daggett-project [5] https://www.youtube.com/watch?v=ZZkY04cvzUE https://www.youtube.com/watch?v=ZZkY04cvzUE