Corporate Rentals Move Into San Francisco’s Rent Controlled Buildings
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- เผยแพร่เมื่อ 6 ต.ค. 2019
- It’s an $18 billion industry in the United States and San Francisco is at the center of it. Short-term rental laws that were designed to preserve the city’s existing housing stock back in 2015 spurred growth for yet another tech disruptor. Susie Steimle reports. (10-7-2019)
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“Disrupting the affordable housing market”? .... WHAT “affordable housing” market????!
Good point 🤔
Exactly and the entitlement of these ppl.
They just need to move out and give up on trying to afford something there.
bodybalancer well in bay there are affordable apartments
Exactly, what affordable housing market....SF did this to themselves and they got what they deserved., just like our crazy gas tax. It’s kicked in full steam and now the same people who voted for it are pissed. You can’t make this stuff up. I love my state but some of the people here are just crazy when they vote for this stuff.
The ultimate irony is that Airbnb's headquarters is in San Francisco lol
Nah. Irony is Uber HQ in 'Frisco and the city being stuck with loans taken by taxi drivers who used them to buy medallions for the right to operate in the city. The city promoted the medallions as a great investments. 😂
KPIX should fucking do an expose on how corrupt and is profoundly inside the rectum of the Board of Supervisors here. It's amazing that an evil company like AirBnB is allowed a license to operate here in light of what they've done to precipitate and perpetuate the homelessness in the region.
@GoldenState Juul paid 'Frisco mucho $$$ to stay open while other e-cig companies were forced out. Looks like karma has a nice set of jaws to bite Juul in their ass. 😂
El Mission its also amazing how we have all this demand, but aren’t throwing buildings like hong kong. We could have been a world class city and compete globally.
@@shanewillbur1325 unfortunately democratic policy for the last 50 years has fucked this city beyond repair
Funny how the lawmakers are willing to do ANYTHING except for letting the developers build more units. You don't get lower cost housing by adding thousands of rules, you get it by building more houses! What a concept
Welcome to California 😂😂😂
@@saltymonke3682 oh believe me, I was born in California and it's a shame that a state with such stunning geography, biodiversity, scenery, architecture, culture, and history is going the way it is
What else would you expect from a city ran by dumborat/liburds forever?
@@paramandans lol copy and paste much . Must be retired Dan haha.
Jake Westin
You do realize SF is on a peninsula, right? Limited land dude.
I saw a video from Europe where people were protesting because of the high housing costs due to flats being converted to short-term/holiday rentals in popular cities, like Barcelona.
The funny thing is that thousands of lower income black tenants were pushed out to make room for ppl like those interviewed in story.
back in the 90s billionaires were kicking out millionaires in Aspen Colorado its the same in every country.
yikes
@Narciso Duran thank both of you for this interesting tidbit of knowledge...definitely gonna read up on that
Everyone talks how the "bay area is the best".
If you like sespool oceans, overpriced everything, hot humid weather, and lots of homeless and stray dogs + cats, this is your dream place!
Hmmmm🤔... you have my attention. But does it offer a really p!ss-poor education system? I am looking for absolute trash schooling where political correctness and emotions take precedence over math and science.
Why do you want to live in the city with uneven roads and so expensive!
Uchiba Uki opportunity
status symbol
I almost never go to SF bcuz i hate driving in that city. And the smells....
I live in San Francisco and I don't feel sorry for these people it's not a great place to live for any reason what so ever
@Keith Steward right.. Shit.. I'm currently saving up ONLY 200k for a condo or house.. In Austin/san antonio.. Lol not there yet but .. Only 200k :0 wooow
@C Hoc okay dickhead!
@Just Smile no way bro.. I already found a condo for 60k in a good area of san antonio.. HOA fee everymonth - 350. Even of prices go up.. In a few years i will still be able to find something good.
@Just Smile i mean.. Out here in SF its booming.. I live in my car now.. No bills.. Only phone and gym and food. Haha every penny saved.
@Just Smile lol.. This guy.
Greed, that's all there is in this world
Sarah the dream is over.
Guess again
@marco jones hay Marco ! I'm the one with the Bic lighter and the gallon of gasoline. ! You're not !
@marco jones hey Marco ! How are those big boulders you pay for in front of your house ? How are they coming along ! ?
Hey Marco !? How's that Homeless Shelter coming down there on 20 million dollar property in Embarcadero !? The Marco ---- sleep with one eye open !
@marco jones when it happens. --it happens
Went there for the first time in august and the city felt so fake. A good 80% of the people I saw and met were just other tourists. It really made me realize how tourism sucks the soul out of places like San Francisco and even Venice.
The billionaires always talking about helping. Why dont they invest in affordable housing.
Hello Me this is a great question. The answer is because of government regulation.
Why don't people take responsibility for their own lives? People that go to college, learn a career, and make good money don't have these problems. If one can't afford college, go into the military and get the GI Bill.
If it is not yours, you dont have control over it. Move on.
This is exactly why I would never buy property in San Francisco. So many of these real estate laws that you almost don't own the land.
An extended family member would still be alive if she lowered her demands and left a metro area. In the end she killed herself rather than living in a lessor zip code
@@turboredcart - Not worth it to me. San Francisco is still a beautiful city. But, I can't justify always struggling to get by to get less. That would get old real quick. There are great cities all across our nation that has a cool vibe and cost way less to live.
@@Bingewatchingmediacontent - Excuse me? You eff off. No city is worth living at when you're killing yourself at the same time.
islandbee you never own the land even if paid off. You’ll forever pay property taxes and if you miss they’ll come and take it. Government= legalized crooks
@@Bingewatchingmediacontent - You dummy! I bet you're one of those losers who don't care because you take advantage of the tax payers' funded programs. So, you don't care whether prices go up or not. San Francisco needs to get rid of trash people like you!
When everyone in San Francisco vote for politicians that bring them down.
darn democrats
Because they don't know any better....
Their so stupid they will keep voting for libturds and that chick probably has her whole life so tough shit for her.
@@greyroom6730 like MAGAts
@@greenearthblueskies8556 - thanks for putting a label on me, apparently you're not from SF.
40%empty, then where is the profit? Doesnt make sense.
These companies rent them out year round. If they get an employee they just send em to the empty apartment
they take losses n write it off
The politicians in California are funny. They want low rent for residents so in return the building owner converts the units to corporate housing. They want more developers to build new affordable housing, but require builders to spend enormous amounts of money on permits, land surveys, and expect you to pay taxes on land while you wait years for permits to get approved. Meanwhile in Orlando I've seen 200 unit apartment buildings get built in about 15 months.
Rent control is what feeds corporate rentals and makes affordable housing disappear. That, combined with so many restrictions and codes on building anything makes the homeless crisis a done deal.
So the real problem are the hotels pricing themselves really out of the market. I have observed this all over the country. What is the solution to this?
Anywhere Techs move in, hopes and dreams get ruined
Same for when liberals move in
You're probably right!
Made me laugh out loud too.
Too much speculation and foreign investment as well driving prices up, etc.
City won't last.. Seems like everyone is corrupt in the government there from the top on down.
stop using social media
A 1 I hate to break this to you, but tech started in the bay area before most of us were born, (steve jobs, Intel, Hp, etc) and is as native as any of us are.
We had the potential to be a green-energy futuristic metropolis, and compete on the world stage with other great cities. We could have showed the world how it was supposed to be done, and have room for everyone.
You cant pick a fight and compete with the same housing as those with huge economic trajectory and means while expecting to win. We essentially fought against a piece of ourselves and lost to the other half. There didnt have to be any fight to begin with.
@@lonewolf3564 or dUmbazz MAGAs 🤡
Why are people crying, because they keep voting for the Democrats!
PatriciaMcAll immagiant vote for them for get benefit Ppl who really work hard can’t win them
This should not be allowed to happen. How in the hell do they feel like they can come here and force Americans to be put out with no where to go. This is about money period....
The real problem is the stupid regulations and nimby to build new properties
This apartment is for people like me, not corporate rental. Buy one! If you want to own a place go buy your own, not demanding owner rent to you.
Exactly. That’s entitled San Franciscans
Jake lieu shut your mouth!
The politicians in San Francisco and the homeless are rotting away the communities.
So many homeless BECAUSE of the politicians.
187 Macabee Yet Republican majority states depend on welfare the most. So what exactly are you getting at? 😂
187 Macabee The Republicans will make as much progress as the Democrats have: Nothing.
Steve Levario 99% of Republicans are already dumb and poor, have you seen a Trump rally? Cumulative IQ of 62 in a stadium in Kentucky.
@@ready40111 lol not even close. California outspends EVERY state in terms of welfare. You are wrong as wrong can be.
San Francisco was not built by renters.
Oh but it was....Who do you think works here....? who runs the city? Who cleans it? who educates, protects, fight fires, pay taxes, paint your walls? Most likely a renter....Don't trip all over yourself thinking the landowner built up SF and gave it the vibrancy that it used to have...Shoot, I've been here almost 40 years and Im one of the luckier ones...One false move and im out...
When you think you're special. I'm sure you have family or friends that are renters. Stfu
Take a couple of drop dead pills. Get lost.
@@johnmilonas7233 tough shitt huh ?
@@spignetti from the looks and smells....nobody cleans it.
tenants shouldn't even live in these apartments but do only because the city forced landlords to get less rent money. The tenants want rent control so they can have more money too.
the rent in san Francisco is so ridiculous
This is why I'm glad the homeless have taken a front line.
The corporate buildings are almost 100% empty. I've seen it.
and when finally rented one day, will become future projects. The PJ's.
She comes across as an entitled person who is in favor of anything that helps her. She wants to live in SF but dislikes change not in her favor.
Robert Montgomery She is more entitled than the techies who came and destroyed our city.
The City was fine before the tech companies arrived. And FYI my family has been in San Francisco City since 1930, we own real estate in San Francisco, Hawaii, and Madera. So kiss my ass. Even the tourist don’t like what SF has become since the techies arrived.
We didn’t have as much homelessness before these techies came here. You don’t see the difference because you were not here before you got your techie job.
My point is that San Francisco has always had a unique character which made it a world class tourist destination spot. Now it’s nothing but another Los Angeles trash place. Natives know what this means young ego centric transplants do not.
I get requests for clients who want to travel and rent a house. I just wont do it.. I blame the cities for not stopping this from the get go. We need to go back to hotels.
SF has no one to blame but themselves. Stop electing the same type of politicians. You’ll just get more of the same. 🙄
*laughs in gentrification*
LOLZZZZ
😂😂
Dré Gamer 😂😂😂😂😂 thank you
Now you guy's see why I ran for Mayor of San Francisco in 2007.
this lady feels pretty entitled
raise the rent until she can't pay
Feed her to the sharks.
The whole country feels entitled.
@@pegasus8873: exactly!
You people are idiots. You have no clue about being forced out of your home because of greed. I hope it happens to all of you someday.
Dream to live in an apartment building? How about just own a house. California has areas where housing is affordable. I live two hours away from San Francisco. And for what one rents there I pay the mortgage to a a new two story house.
Wow, you must be rich! Most of California is completely unaffordable for the "average" American family. Though it is true, there are pockets of "affordability" in places where most don't want to be.
@@duancoviero9759 just bc ppl work and get loans and put themselves in debt for a house DOES NOT make them rich. Plenty of "AVERAGE" ppl own houses they just WORK FOR IT. American dream buddy.
Duan coviero correction living in San Francisco, Malibu, many coastal beach communities are unaffordable. I know a 25yr old Hispanic male with no college degree. He works retail and owns a home by himself. He’s a 45 min drive from the beach 😱 the horror. I also know a 24 yr old Hispanic female that sells insurance that owns a 2000sf home in a gated community. She owns a home (her boyfriend has his own home too) once again no college just a retail worker. She’s inland too, has very nice house. Nobody owes someone cheap rent because that person happens to want to live in an expensive area.
Where?
Christopher Hitchens Inviting people to move to the decreasing number of affordable areas will quickly make them unaffordable. Housing stock is finite, and unless we clearcut forests, backfill marshes, rezone thousands of acres of farmland that feeds most of the state, and eliminate the city parks where our families gather for picnics, to build big, tall apartment buildings to temporarily alleviate the problem, it is also very limited. Supply and demand, my friend. So, for the few of us that still live in these few semi-affordable places, please freaking *ZIP IT!!!*
If excessive regulation caused the housing issue I’m sure more government intervention will help
its a boatload of money laundering that caused the housing crisis in the USA, this is just an extension of the Bush Depression because we doled out money to bail out organized crime rings masquerading as finance. they play fast and loose because they expect to be bailed out again, and again. I don't think I have to tell anyone what a bad investment it is to just bail out "too big to fail" corporations and get nothing in return. Money laundering in real estate requires corrupt city officials, and there is no shortage of those, people ready to be bought, sign the right papers and off "the developers" go.
Europe doesn't have this problem because they have laws in place to block money launderers, if you are renting more than x amount of units then you need to apply for a hoteliers license. They also restrict the amount of property a person can own. Its why you can live in Paris for less than it costs to live in Atlanta.
gisforgary now that you’ve had a change to express your conspiracy theory, we can talk for real. Nimbysim and rent control are what caused and are causing the housing issue in SF. Get rid of both of those things and rents would go down.
@@gregcarlson8438 Don't start with me, I work in urban planning, jackass. Nimbyism is a nice way the corrupt city officials can take the blame off of them, property owners really don't have a lot of say in what get built and what doesn't. Rent control works fine all over Europe, so you lose there too, white boy whiting.
gisforgary so you admit you are biased. That explains the conspiracy theories you have.
You say nimbysim isn’t a thing and don’t explain why except for another conspiracy theory of yours.
You are obviously wrong because rent control does not work all over Europe.
gisforgary calm down mr government worker. How many rental properties do you own?
Well if they own the building.... they can do anything they want with it. Don't know why you think you have the right to tell them what to do with a building they own.
There is no constitutional right to live anywhere you choose
They need to clean the swamp in San Francisco and California in general.... This state had gone too hell .....
Matthew Tabot Probably because the same thing happened to Vancouver and Toronto before it hit the western states.
Why can't corporations rent hotel rooms in bulk at a discounted price for their corporate rentals?
Because it's a different design and also not what they want to do. The clearly pointed out that the rent is half as much as a hotel room.
Operative word is “feel” like you live in San Francisco. But you will NEVER be a San Francisco native, cultivated in this once beautiful city. You will always be a visitor. Transplants are not natives. Techies are nothing but the demise of the real character of San Francisco.
Peter S. I’m conservative. There are plenty Trump supporters in San Francisco. We just lay low or risk the violent attacks or damage on our property by radical liberals. Thanks for your comment.
@@aimsays Radical Liberal here. Watch your back.
Majority of your techies you speak of are neocons and neoliberals. But if it makes you feel to keep calling them radical liberals then feel free.
@@gannibalof21st San Franciso is the largest donator to Sanders.
@@michaelschlachter8865 it's called regular people. I live in silicon valley. You want try again?
Every injustice is over something else being of worth, than one another.... no matter where you are from, nor the language.
I live watching San Fransucko news. Makes me realize my city ain’t so bad.
I love how people feel like they deserve to live in the area where they were born. If you don't have the opportunity to make enough to live there you need to go elsewhere. It's been that way for all of time.
😂
Coming from a state that voted on raising their own gas tax.
Exactly.
I didn't vote for it.
@@paramandans ahhh good for you. You get a star by your name. Instead of being the turd in the punch bowl, you are the garnish on top of the bowl of turds.
@boo boo Every State has had a State school tax. California residents pay 8.3% verses Florida's 6%. Big difference in gas prices between these two states also. And yes, big difference in the level of stupidity as you put it.
Right we raised our tax to fix our roads... then the evil gavin Newsom ( nancy pelosi's nephew) took the money we agreed to tax our selves to fix OUR roads and gave it to the homeless. A problem he created. Gavin newsom is a true A hole!!!
Her childhood dream was to live on Powell St.?
Build more, and faster! Reduce the regulations and allow for change! Affordable housing is directly affected by supply and demand.
I’m sorry to tell this to Sarah but she’s gonna be forced to move within the next 2 yrs San Francisco is unlivable. The cost of living is just insane considering all you are getting is a nice waterfront view with lots of tourists and traffic all year around.
"that should go to people like.... MYSELF!" hard to hear
NOW gentrification is a problem?? GTFOHWTBS.
Shoutouts to Aaron Peskin. Actually doing his job to represent the locals who should not have to be forced into competing in the corporate circuit.
Why don't you try stop telling people what they're going to do with their own f****** property
I thought 'rent-control' was meant to help people find a place to live. What went wrong?
if you dont like whats going on in SF then move out of the city to somewhere move affordable
Why should it go to someone like herself?
Paul Tu obviously it shouldn’t.
There are two bedrooms apts going for $5000 per month
At least you can come out to Fisherman's Wharf and get a FREE balloon.
If there wasn't NIMBYs to restrict redevelopment in the city the rents and ownership would be much lower. Getting rid of only being able to develop in very small areas and putting affordable rent requirements on the developments would fix things to a certain degree.
We have these all over my City of Jacksonville in Florida also. It’s really nice to see the development but, to push out Locals. Or the ones in need of Housing , Big Bucks are there Target not families .
Jokes on them if nobody rents them they lose money.
I can’t afford to live in Bel Air yet I’m not complaining and bitching that they need to have affordable rentals for my income bracket😂
A 1 it’s is a statement intended to offed the snowflakes of the world haha
@A 1 It's not. She could easily move 30 minutes away and get cheaper rent, but instead she's demanding that she should get to live in the more expensive areas.
Sometimes your life dreams get crushed... Sorry lady get over it.
So she should be protected.
Ha. This is what you get with rent control. Allready in CA land lords are furiously raising rents ahead of rent control. You know it will cause more shortages as people will not leave.
Omg i just saw your " numbers" you are out to lunch! 1500 will NOT get you an apt THERE
gre p I am a landlord of 30 units in Portland, OR. My business strategy before the rent control there was to rent units at market and hardly raise rents on good tenants. As soon as the rent control bill was passed 7% plus CPI, I sent out 10.3% rent increases and CPI next year makes the cap at 9.9% here. Sales tenants will get those increases as well.
@@gregcarlson8438 thks, i knew that. It literally turns decent landlords into part of their control.
Also if landlord is "cool" and doesnt keep pace... well those folks arent leaving further binding up vacancies. Your not leaving your cheap apt to go into the wild and pay full price. So less and less available property
gre p economists all but agree who devastating rent control is to a local housing market. But politicians, who only want votes, appeal to people who don’t know any better. This is why our founding fathers were adamantly against democracies.
I have that same book "History Of Art" that's to her left up on the shelf. Mine is the 16th edition from '71. Her's has a slightly different cover (the publishers names run vertically). It may be a newer copy.
When you implemented rent control and eviction moratorium, this was the only reasonable next step.
The city needs to stop this.
I'm from Charleston s.c so I've witnessed the darkside of gentrification. But California is on a whole different level.
Regulations and taxes create unemployment
Even if I was rich, i wouldn't want to live in San Francisco.
Greed!!! Veritas, "temporary stay"! People don't live temporarily in homessss. How stupid the response. Hotels cost in San Francisco is extremely expensive!!! That's why they rent for $160 bucks a night.
Sarah last name is weed haha Couldn’t take this story seriously after seeing that
It’s my dream to live in a $5 million penthouse and only pay $1500 per month in rent. How dare this evil landlord stop me from my dream?
Can someone who is an economist explain to me. If all the rents are higher than they used to be, where is all this money coming from. Computers didnt exist 50 years ago. Now you have to be in computers to afford to live in the city. What I dont get is how when they print new money, who gets it? To me the world is a giant scam. I live in the Bay Area and it is depressing knowing that I will get pushed around my whole life. Unless I make a stand!
I want to stay in a Air B and B not a damn hotel
Ppl like Sara are what I love about San Francisco, the love for there city and community. We need more ppl like her to care about there own city/area. It’s extremely sad that ppl like her are being pushed out of the area they’ve lived at for yrs. keep up the great reports on these stores, things need to change, y’all could be the head lead in helping your community get better housing kpix. Start hounding city officials next, do real journalism!! 💜
That’s a very easy thing to say.. let’s be realistic blugrl
ltlblugrl ppl shouldn’t be forced to move because of bad corporation rentals tho. Doesn’t matter if it’s California or Arizona or freaking Nebraska.. ppl are literally being pushed out.. My area we have reasonable housing compared to Arizona and California... It all comes down to bad laws from the city councils. The city council ppl are probably getting paid from corporate ppl to get things passed. Either way it’s sad and shouldn’t happen, however you feel about California!
Family Broich it was my understanding that the problem are that projects for more housing are NOT getting passed. Ive watched hours of city SF city counsel meetings where boomers will talk down something based on their skyline views, or a stupid shadow.
They should get rid of the ridiculous building codes they have and allow more housing to be put up. That's the only way to fix the problem.
5000 dollars for monthly rental in SF is a low estimation. it is 7000！
as a SF resident, vote no on all affordable housing proposals, as it just leads to more taxes and little relief - city budget is over 10 billion!
Greedy landlords who cannot distinguished the difference between need and greed!
Honestly, I don't understand rent control. They need to accept this reality. If you can't afford to live where you are, it's time to move.
Am I supposed to feel sorry for these people ? Moved out of the Bay Area in 2006 and live in FL now. Why, because it was outragoulsy expensive to live there.
Just because you were born in a city does not mean you should be given an apartment to live in for the price you want to pay for. Am I misunderstanding something?
Bring more immigrants,maybe that will help!!!!
Think that thought while you sit in traffic
Bunch of smart ones that city has running it. Keep electing them people it's will turn out better than you can dream. Crime,homelessness, drugs ,needles,etc,etc.......
Did anyone notice Sarah's last name is "WEED" 😂♥️
I don’t even live in San Francisco! Why are you suggesting this to me TH-cam robot. I’ve been there once and don’t know if Ill ever go back!
This report is so slanted. They never question the existence of rent control as a contributor to the housing shortage but blame the people using the law to their best advantage. Every American city with rent control has a housing problem. Now California passed state wide rent control. Good luck for those living in Cali.
These central planners are discovering what every central planner before them has already learned.
Well, what every central planner has experienced. I don't know abut learned, haha.
In all of this why do they keep ignoring the obvious solution of cool down their use of zoning, getting rid of the restrictions on building heights, and building more housing?
There is an estimated 30k empty homes and units in the SF Bay Area. Many are purposely kept off the market by former landlords for one reason or another. Thr cities need to find out why and if a simple change in the laws could get those units back on the market, they should make the legislative changes. This is the cheapest and fastest solution.
PoodleScone That still wouldn’t put a dent in demand. The bay area need to adapt into a modern metropolis, and compete on the room stage with room for everybody. Zoning needs to be overhauled.
There is a section of boomers who help gridlock this thing so they can use their inflated equity for retirement in order to make up for a ransacked SS fund.
Just expand, the city needs to buy land
Oh Sonders just moved into our building in San Diego! Just Another thing everyday hard working people have to deal with. Shame on the politicians that allow this to happen.
Your building? Do You own it?
4:48 There is a community in San Francisco?
Should go to renters like herself? Who made her deserve that rental?
Left Right agreed
1:25 "This building should go to people like myself" Well La Di fucking Da, thanks for letting us know what you are entitled to based on your self opinion about yourself. Where do we sign up to serve and defend your honor?
Well said!!.. Thats what the mindset of communism/ Socialism does to people. Become Lazy and feel entitled!
Im from the Government and we are here to help...
...
Because it is legal doesn't not mean its ethical.
Doesn't mean it isn't.
AKEWSD Whos ethics?
Money is not like water. Water is not demanded- You are not entitled to money.
The bay is so different from when I was commin up
These poor people are ruining everything