Re:San Francisco, Silicon Valley rents plunge amid downturn
by jedberg on Monday June 01, 2020 @03:58PM
(#23383005)
> Hell, I know a guy who has a rent control units for a couple decades. He can pay his monthly rent with one day's take-home pay.
It sounds outrageous, but I know someone like that too. Got a rent controlled box in Berkeley as a student, never left. Rent is only about $700 a month now. If you make $180,000 a year, that's a single day's pay.
Re:San Francisco, Silicon Valley rents plunge amid downturn
by refurb on Tuesday June 02, 2020 @08:18PM
(#23398172)
Yup. I remember people telling me this when I first moved to SF. The rent may suck, but if you get a rent controlled place, a few years later you’ll be paying below market and the economics start to make more sense.
As you mention, a significant percentage of tenants with rent control would be regarded as "high income" households.
Hell, I know a guy who has a rent control units for a couple decades. He can pay his monthly rent with one day's take-home pay.