Rent-control battles are now under way in five cities that ring San Francisco: Alameda, Mountain View, and Richmond voters will consider rent-control measures in November. Tenant advocates in Burlingame and San Mateo are waiting to find out if they collected enough verifiable signatures to get their initiatives before voters.
Yeah, not good, with cities trending to add these measures. Owners are under attack once again…
People don’t realize other changes made housing more expensive too. They were all meant to help the middle class, but long-term they hurt it.
Changing from 15 to 30-year mortgage: Sure, it made it so people could afford to pay more. That created more demand which leads to higher prices.
Government directly buying mortgages in the 70’s: that’s when housing really started to take off. A historic chart is insane.
Including both incomes for qualification: you used to only be able to include the wife’s income if a doctor said she can’t have kids. If a woman worked, it created a healthy cushion. Now people can borrow to the max and afford to pay more. It creates more demand.
All 3 were meant to help. All 3 creat d more demand which drives up prices over time.
Pitchforks are coming!! Depending on the outcome I may need to rethink my long term real estate game plan…
Well, hopefully, that was money well spent…