California Approves Statewide Rent Control

Re:California Approves Statewide Rent Control by pcwalton on Wednesday September 11, 2019 @09:40PM (#20946843)

Vacancy rates in San Francisco are very low compared to the rest of the state and the country. Rent control in SF is problematic not because it leads to vacancies but because the allowable increase is far too low, way below inflation.

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Re:California Approves Statewide Rent Control by refurb on Wednesday September 11, 2019 @09:49PM (#20946922)

Vacancy rates are empty units that are available as a percent of all units available for rent. It doesn’t typically include units that aren’t available for rent.

The estimate is there are 100,000 empty homes in the SF area.[1]

I’ve seen an estimate of 20,000 for SF proper.

This [2] report to SF Planning states the number of empty units has doubled over time.

[1]https://www.sfgate.com/realestate/article/An-estimated-100-0... [2]http://ternercenter.berkeley.edu/uploads/CR_Final_2.3.19.pdf

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Re:California Approves Statewide Rent Control by dragonwriter on Wednesday September 11, 2019 @10:29PM (#20947230)

> I’ve seen an estimate of 20,000 for SF proper.

Even if that was added to the vacancy rate, that would still leave SF with around the national average (~7%) vacancy rate, and that's without counting the off-the-market housing anywhere else in the average (and not double counting actual on-the-market vacancies everywhere else, either.) Anyway you cut it, SF has a low vacancy rate/rate of empty homes.

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Re:California Approves Statewide Rent Control by refurb on Thursday September 12, 2019 @12:56AM (#20948134)

Yeah, but 2% to 7% vacancy rate can mean the difference between rents that are $2000 per month and rents that are $4000 per month.

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Re:California Approves Statewide Rent Control by ryan_lane on Thursday September 12, 2019 @11:33AM (#20952638)

SF added 2,000 jobs in 2019 alone. If those were put on the market even in a huge lump sum, there's no way it would cut rent prices in half. Maybe it would keep the prices from rising for a year or so?

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Re:California Approves Statewide Rent Control by pcwalton on Wednesday September 11, 2019 @09:51PM (#20946941)

It's low no matter what measure you look at.

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Re:California Approves Statewide Rent Control by refurb on Wednesday September 11, 2019 @11:20PM (#20947594)

You'd also have to consider all the people that would be happy to rent out their in-law but decide not to because of rent control.

Not saying it would solve the housing crisis, but adding another 20,000+ units onto the market would certainly help.

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Re:California Approves Statewide Rent Control by tmh79 on Wednesday September 11, 2019 @09:45PM (#20946891)

yea, vacancy rates in SF are 2 - 3%, way way below the national median, and way below the california median as well

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Re:California Approves Statewide Rent Control by fountainofage on Wednesday September 11, 2019 @09:54PM (#20946969)

What units go into the vacancy rate? The comment seems to be saying these units aren't even listed as available. Would they still show up in the vacancy calculation? How do they get in there?

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