Average Rent in San Francisco Has Dropped $1k This Year

Re:Average Rent in San Francisco Has Dropped $1k This Year by oblio on Monday December 28, 2020 @11:24AM (#25560437)

I think the point is: what if they don't sell it, at all?

Kids move out of the house, parents retire at 65 and live to 85+. That's 20 years, a whole generation.

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Re:Average Rent in San Francisco Has Dropped $1k This Year by ProblemFactory on Monday December 28, 2020 @11:41AM (#25560607)

If the developer can get permission to build 3-5 story apartments on the lot, then their land suddenly becomes way more valuable than the single home ever was. Most retirees will gladly sell and live in luxury elsewhere. If a few don't, it won't make a difference.

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Re:Average Rent in San Francisco Has Dropped $1k This Year by bernawil on Monday December 28, 2020 @12:25PM (#25561039)

  If the developer can get permission to build 3-5 story apartments on the lot

wouldn't that only work for a single unit? Like, yes, if inside a single-family-zoned block a unit would get a special permission to be the only one to build high density, sure that piece of land would be more valuable than before.

But if the whole block gets rezoned, then there's a race to the bottom.

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Re:Average Rent in San Francisco Has Dropped $1k This Year by imtringued on Monday December 28, 2020 @01:15PM (#25561514)

Other comments mentioned that NIMBYs don't want their neighbours to upzone either.

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Re:Average Rent in San Francisco Has Dropped $1k This Year by nradov on Monday December 28, 2020 @03:19PM (#25562773)

Many single family home owners will strenuously object to having a developer build a 5 storey apartment building next door because they don't want additional noise, traffic, and people looking down into their private back yard. It directly impacts their quality of life.

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