Former Bay Guardian editor and publisher Tim Redmond has a great new investigation on his 48Hills site showing how many new luxury condos in San Francisco are owned as investments by out-of-towners, puncturing the myth that unfettered market-rate housing development will help with the city’s affordability crisis. Check it out.
San Francisco, its General Plan Housing Element, and various city codes have always had a very specific definition of what they mean by “affordable housing”: homes that are affordable to those making 120 percent of area median income (AMI) and below, the kind that generally require public subsidies to build from scratch in San Francisco. That group is defined annually by the US Department of Housing and Urban Development using the latest data, and this year in San Francisco, it is defined as individuals making $81,550 or less year, or households of four people making $116,500 or less, according the Mayor’s Office of Housing and Community Development. Read more »
EDITORIAL One the most frustrating political conflicts in San Francisco this election season is the schism between sustainable transportation activists and affordable housing advocates, a split that unnecessarily divides the progressive movement and one that has been cynically manipulated by the Mayor's Office and its political allies.Read more »
Two Realtor groups have dumped nearly $600,000 into the campaign against Prop. G, the tax on flipping properties to discourage real estate speculation and evictions in San Francisco, a massive early donation that could signal the beginning of a campaign onslaught by the Realtors.Read more »
Housing is out of whack in San Francisco, and Sup. Jane Kim's affordable housing ballot measure would've gone a long way towards fixing it. But that was then. Now, things are more uncertain. Read more »
The November ballot is shaping into a housing supply theory showdown, and yesterday’s [Thu/17] Board of Supervisors Rules Committee hearing was the first round.
The committee hosted two hearings on rival housing proposals for the November ballot: Sup. Jane Kim’s City Housing Balance Requirement and Mayor Ed Lee’s Build Housing Now initiative. The two purport to set similar goals for building affordable housing, but Lee’s proposal contains a poison pill that would invalidate Kim's measure. Read more »
Opponents of the anti-speculator tax that will appear on the November ballot blasted the proposal in a City Hall hearing yesterday [Thu/10] — pledging to defeat the measure in court even if voters approve it — but they were overwhelmed by a strong turnout from supporters who said real estate speculation drives up the cost of housing without adding any value.Read more »