4 ms·

How are current residents being priced out? If they rent, then rent increases are limited by law and no-fault evictions are nearly impossible to get honestly. I

How are current residents being priced out? If they rent, then rent increases are limited by law and no-fault evictions are nearly impossible to get honestly. If they own, the no one can force them to move short of the city invoking eminent domain.

gwern 14y ago
Property taxes being set on increasing market values of properties?
ryguytilidie 14y ago
"then rent increases are limited by law" In certain cases, yes, but personally I lived in SOMA in an apartment for 2 years and my rent was going to go from 2k to 3k because Google had asked the building if they could rent some of the units. So I mean, maybe it was illegal and I don't know about it, but I can certainly say I don't live in San Francisco anymore because I was priced out by new incoming tech employees.
- redthrowaway 14y ago
  I'm assuming you made a thinko there; as written your comment says you were forced to move because living got too inexpensive.
  - ryguytilidie 14y ago
    haha good call, thanks for noticing.
surrealize 14y ago
One of the examples in the article is a couple who have lived in san francisco for a long time, and feel the need to move to a bigger place because they now have kids. But they keep getting outbid on houses.
tomsaffell 14y ago
I agree with your sentiment, but just for completeness, there are a few ways existing residents get 'priced out': 1) the 'assessed value' of owned property (used to calculate property tax) can be raised ~2% per year[a], so over a decade a home owner's property tax may increase ~22% 2) Not all of SF has rent control. Any building constructed after 1979 does not. [b] 3) Not all renters are savvy enough to not get kicked out by greedy landlords, despite the laws protecting them. Apparently landlords often use 'renovations' as a way to do that. Just last week I overheard a conversation in Trader Joes about someone who had fallen pray to that [c] TLDR: money is like water - it will find its way through the cracks to the place it wants to be (the pockets of those with capital). a: http://www.sftreasurer.org/index.aspx?page=66 http://www.sftreasurer.org/index.aspx?page=66 b: http://www.sftu.org/rentcontrol.html http://www.sftu.org/rentcontrol.html c: time travel to TJ's on 8th, ~8.30am last Sunday.
unreal37 14y ago
Its only true if you never move. Or if you were renting but now are ready to buy.

gwern 14y ago

Property taxes being set on increasing market values of properties?

ryguytilidie 14y ago

"then rent increases are limited by law" In certain cases, yes, but personally I lived in SOMA in an apartment for 2 years and my rent was going to go from 2k to 3k because Google had asked the building if they could rent some of the units. So I mean, maybe it was illegal and I don't know about it, but I can certainly say I don't live in San Francisco anymore because I was priced out by new incoming tech employees.

redthrowaway 14y ago
I'm assuming you made a thinko there; as written your comment says you were forced to move because living got too inexpensive.
- ryguytilidie 14y ago
  haha good call, thanks for noticing.

surrealize 14y ago

One of the examples in the article is a couple who have lived in san francisco for a long time, and feel the need to move to a bigger place because they now have kids. But they keep getting outbid on houses.

tomsaffell 14y ago

I agree with your sentiment, but just for completeness, there are a few ways existing residents get 'priced out': 1) the 'assessed value' of owned property (used to calculate property tax) can be raised ~2% per year[a], so over a decade a home owner's property tax may increase ~22% 2) Not all of SF has rent control. Any building constructed after 1979 does not. [b] 3) Not all renters are savvy enough to not get kicked out by greedy landlords, despite the laws protecting them. Apparently landlords often use 'renovations' as a way to do that. Just last week I overheard a conversation in Trader Joes about someone who had fallen pray to that [c] TLDR: money is like water - it will find its way through the cracks to the place it wants to be (the pockets of those with capital). a: http://www.sftreasurer.org/index.aspx?page=66 http://www.sftreasurer.org/index.aspx?page=66 b: http://www.sftu.org/rentcontrol.html http://www.sftu.org/rentcontrol.html c: time travel to TJ's on 8th, ~8.30am last Sunday.

unreal37 14y ago

Its only true if you never move. Or if you were renting but now are ready to buy.