The inverted, major unintended consequences of all Rent Control. San Francisco's Rent Control is a primary example of the reversal of intended wages of rent control.Henry Karnilowicz, the group’s president, said rent control should be abolished, or at least reformed so that the wealthy do not receive subsidized rent. “There should be means testing,” he said.
Mr. Karnilowicz estimated that 5 percent of the city’s 212,000 rental units (about 10,600) are kept vacant by landlords who would rather not deal with rent control (others estimate the number is higher, about 25,000 units). He said that many owners would rent those homes if there were reforms, like requiring the rich to pay full market value.
Such a move is highly unlikely, however. In a city where 64 percent of residents rent, tenants have enormous political clout and it is unpopular to even discuss reforming rent control.
Here is a perverse result from the decades of this over controlled rent market. m/r
San Francisco Supervisors Approve 220 Square Foot Apartments « CBS San Francisco
November 20, 2012
SAN FRANCISCO (CBS SF) — San Francisco’s building code got downsized Tuesday with the Board of Supervisor’s approval of a pilot program that will build efficiency units, or apartments with reduced square footage requirements.
The board, in a 10-1 vote at Tuesday afternoon’s board meeting, approved the ordinance that will change the definition of an efficiency dwelling unit to include units that are as small as 220 square feet, including the bathroom and closets.
Part of the legislation is a program that caps the construction of these mini-apartments, at yet to be determined locations, to 375 units. ...
... The legislation, introduced by Supervisor Scott Wiener, was touted as a way to address the housing crisis in San Francisco where one bedroom apartments and studios can run up to $3,000 per month in rent.
-more at link-
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