“The City by the Bay is going through one of its worst housing shortages in memory. With typical high demand intensified by a regional boom in tech jobs, apartment open houses are mob scenes of desperate applicants clutching their credit reports. The citywide median rental price for a one-bedroom is $2,764 a month, but jumps to $3,500 in trendy areas. One reason for the shortage? Me. I’ve recently joined the ranks of San Francisco landlords who have decided that it’s better to keep an apartment empty than to lease it to tenants. Together, we have left vacant about 10,600 rental units. That’s about five percent of the city’s total.”
http://www.nytimes.com/2013/06/07/opinion/king-of-my-castle-yeah-right.html?_r=0
Related posts:
Georgia prepares to execute mentally disabled prisoner under secrecy law
Cypriot finance minister says "no truth" to resignation reports
Faulty Government Websites Confront Needy in Search of Aid
Obama Presses for Action on Bank Rules
Home-schooling family who fled to U.S. from Germany face deportation by Obama administration
What it costs to raise a royal baby
Ponzi Pandemic: 500+ Schemes Totaling $50+ Billion in 'Madoff Era'
Jack Lew and Citigroup: How the Corrupt Rich Get Unjustly Richer with Crony Capitalism
At BoE, Mark Carney could be handed powers to spur economy
Swiss luxury home market turns downward
With 'Charity' For All
Even Ivy Leaguers default on student loans
Housing in U.S. Cools as Rate Rise Hits Sales: Mortgages
NSA Fallout: Berlin Moves to Increase Mobile Phone Security
SF police officer pleads not guilty to child molestation charges