zlacker

>>Strato+(OP)
I had no idea who Dan Preston was until Tan complained about him, but given

> In 2022, Preston proposed a ballot measure to tax vacant housing in San Francisco.

I think I might just love the guy. Thanks for the awareness campaign Garry!

>>hughes+U8
Perhaps I could interest you in some rent control too.

>>onepoi+Tm
Ruins market mechanisms too much. Taxing vacancies doesn't ruin the supply and demand equations.

>>Sabinu+jn
it unfairly punishes property owners in soft rental markets like the one we have now.

i’ve seen an unusual number of multifamily properties listed all over SF last few months.

>>tempsy+Co
So? Then they need to lower the damn rent.

This idea that rising property values is a God-given right needs to stop.

Capitalism is supposed to work BOTH directions--up and down.

>>bsder+Kp
not sure what you’re talking about but rents in SF are still very much down vs 2019

market has demonstrated plenty it can lower rents as is

>>tempsy+xq
Don’t pretend it’s anywhere near a free market as is. It’s nigh impossible to build new or denser inventory there.

>>dymk+us
Yeah that’s not true

there’s plenty of half empty apartments all over soma and mission bay

>>tempsy+ht
And a vacancy tax would force developers to finish projects or abandon them completely so someone else can at a lower price.

If it’s set where it’s cheaper to hang onto the vacancy until rents rise again and finish the build then, it’s a problem.