Skip to content

The real estate industry attacks affordable housing in SF

October 2, 2016

Campaign finance reports released last week reveal that national and state Realtor organizations have contributed more than $1 million to the campaigns for Propositions P and U – measures that could fundamentally undermine affordable housing in San Francisco and beyond.

The tsunami of money has already begun to churn out slick mailers promising that “Props U & P mean more housing for more people” (emphasis in the original).

This is a very appealing message for a city that is desperate for more affordable housing.  But it is a false promise that neither measure can fulfill.

In reality, Proposition U will not create a single new unit of housing.  It merely expands the number of people who are eligible to apply for the same number of existing and future inclusionary housing units. Or more precisely, it expands eligibility of ‘middle income’ people to chase after rental housing that had been presently reserved for lower income people. And Proposition U is a one-way street: it does not enable lower income households to apply for ownership units now reserved for middle income households…(more)

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: