The New York Times: “Mary Elizabeth Phillips, a retired accountant, is fighting eviction from the rent-controlled apartment where she has lived for almost half a century. If her new landlords have their way, she will have to move in April, shortly after her 98th birthday, because they want to sell the units.”
It’s nice to see San Francisco embrace technology companies, but not at the expense of others. People that work in the city cannot afford to live there; teachers, police, and fire fighters have to live outside the city and commute. That feels wrong. I know it’s typically more costly to live in a city, but San Francisco is heading toward New York prices, a place only the rich can afford to live.
One reply on “Pathetic”
And rent control makes that worse. Holding a segment of the housing stock below market cost makes it less profitable to build more housing. The existing stock of housing gets more expensive. Progressives then pile on asking for more regulation…. which makes it worse. Lift the rent controls and let the market solve the problem of providing housing. NYC will never be cheap, but it does not have to be catastrophically expensive.