SF Voters Just Made Us Owners More Money

http://www.bizjournals.com/sanfrancisco/blog/real-estate/2016/06/affordable-housing-san-francisco-prop-c-sf.html

Now that this passed, we should see lots and lots of developments going forward, right???

What? I voted No!

“You saw that softening in housing price and rent? Never mind. Our mistake. Will never let them ever again.”

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Well, in theory that would be the way to go (from an owner’s/developer’s perspective) but this will just pinch off those projects that were on the edge of penciling in the black. In that article, it is mentioned that developers are already downsizing projects, so what does that do? Does not increase housing which I believe is the ultimate goal right? Let’s be honest, if they would just let builders build as much as they want, what is probably going to happen long term (even for our wonderful 7x7 city)? Chances are, rents are going to come down if they can’t sell them and are forced to rent them out in the meantime. Let capitalism work, for Christ’ sake!!!

Of course you did, but they threw your vote in the trash.