Re:Average Rent in San Francisco Has Dropped $1k This Year
by imtringued on Monday December 28, 2020 @01:35PM
(#25561763)
>The county should also buy up housing and rent for cheaper to drive the market rate down
Almost, buying up housing is fine if the government changes zoning and upzones existing properties. It is better to go one tiny step further and make the government guarantee housing for a fixed price because then it is truly forced to fix the problem.
Once you have done this important step the government has many options. It can either fix the demand side or the supply side.
The supply side is easy to fix by changing zoning laws to encourage taller residential buildings and then by actually building them.
The demand side can be fixed by changing the tax law so that commercial property is no longer the only source of property tax income. This lead to an imbalance of commercial vs residential property which then lead to lots of workers without housing which then lead to a race for apartments driving up prices.
Almost, buying up housing is fine if the government changes zoning and upzones existing properties. It is better to go one tiny step further and make the government guarantee housing for a fixed price because then it is truly forced to fix the problem.
Once you have done this important step the government has many options. It can either fix the demand side or the supply side.
The supply side is easy to fix by changing zoning laws to encourage taller residential buildings and then by actually building them.
The demand side can be fixed by changing the tax law so that commercial property is no longer the only source of property tax income. This lead to an imbalance of commercial vs residential property which then lead to lots of workers without housing which then lead to a race for apartments driving up prices.