4 ms·

It is actually not correct that homeowners in SF outnumbers renters. 65% of the population are renters. Because of prop 13 property taxes are also fixed and de

It is actually not correct that homeowners in SF outnumbers renters. 65% of the population are renters. Because of prop 13 property taxes are also fixed and decreases to nothing as the property depreciates over 29 years. Prop 13 in effect removed much of homeowners incentive to support policies that promote development.

afarrell 9y ago
But many renters are opposed to increasing housing stock, no?
- asabjorn 9y ago
  Yes, traditionally many renters that count themselves as progressives in SF has fought for restricting housing supply. Restricting housing supply has priced out a previously thriving african american and hispanic community, as well as most working class families. In Norway, where I come from, this would not be considered a progressive opinion at all. Quite to the contrary it would be considered an extremely conservative opinion, and possibly also classist.
- MBlume 9y ago
  Hardly any renters in San Francisco are market rate renters. Market rate raters are the only ones who directly benefit if the market rate comes down.
  - asabjorn 9y ago
    Not necessarily. Life situations change so a rent control tenant might need to find a new place or people they love might need to. For instance * get children * get grandchildren they want to be close with while their child can’t afford to live next door because of inflated rents caused by housing shortages * become old and need to live in a building adapted to their needs *their friends might move away because of high housing costs Reducing prices solves these problems.
    - MBlume 9y ago
      Oh, I totally agree, rent control makes it hard to move and that's terrible, we should have many more market renters and we should build enough to keep market rates reasonable. I'm just saying the political coalition isn't really there.
joejerryronnie 9y ago
SF is just a small portion of the greater Bay Area and probably not all that representative of the majority - either demographically or politically.
- asabjorn 9y ago
  More people rent in the bay area than you might think: * San Francisco: 65% renters * Oakland: 60.2% renters * Berkeley: 57.3% renters * San Jose-Sunnyvale-Santa Clara metro area: 43.7% renters
njarboe 9y ago
I don't believe prop 13 allows decreasing the assessed value due to depreciation, although I could be mistaken. From what I understand (and is the case with my personally owned home) the assessed tax value of the property is the sale price and then goes up a max of 2% per year or the inflation rate.

afarrell 9y ago

But many renters are opposed to increasing housing stock, no?

asabjorn 9y ago
Yes, traditionally many renters that count themselves as progressives in SF has fought for restricting housing supply. Restricting housing supply has priced out a previously thriving african american and hispanic community, as well as most working class families. In Norway, where I come from, this would not be considered a progressive opinion at all. Quite to the contrary it would be considered an extremely conservative opinion, and possibly also classist.
MBlume 9y ago
Hardly any renters in San Francisco are market rate renters. Market rate raters are the only ones who directly benefit if the market rate comes down.
- asabjorn 9y ago
  Not necessarily. Life situations change so a rent control tenant might need to find a new place or people they love might need to. For instance * get children * get grandchildren they want to be close with while their child can’t afford to live next door because of inflated rents caused by housing shortages * become old and need to live in a building adapted to their needs *their friends might move away because of high housing costs Reducing prices solves these problems.
  - MBlume 9y ago
    Oh, I totally agree, rent control makes it hard to move and that's terrible, we should have many more market renters and we should build enough to keep market rates reasonable. I'm just saying the political coalition isn't really there.

joejerryronnie 9y ago

SF is just a small portion of the greater Bay Area and probably not all that representative of the majority - either demographically or politically.

asabjorn 9y ago
More people rent in the bay area than you might think: * San Francisco: 65% renters * Oakland: 60.2% renters * Berkeley: 57.3% renters * San Jose-Sunnyvale-Santa Clara metro area: 43.7% renters

njarboe 9y ago

I don't believe prop 13 allows decreasing the assessed value due to depreciation, although I could be mistaken. From what I understand (and is the case with my personally owned home) the assessed tax value of the property is the sale price and then goes up a max of 2% per year or the inflation rate.