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San Francisco artist who is being kicked out of apt. is perfect example of why rent control is awful
Business Insider ^ | 02/02/2016 | Jim Edwards

Posted on 02/02/2016 9:49:45 AM PST by SeekAndFind

If you're interested in whether rent control makes rent prices go down or not -- and plenty of people think it actually makes them go up -- then stop what you're doing right now and watch this video on San Francisco's real estate war, by my colleague Andrew Stern. The video features a heart-breaking interview with artist David Brenkus, who has lived in a rent-controlled apartment on Walter Street for 34 years. His building has been bought and now he is being evicted so that the new landlord can move in. Brenkus's rent is $735 month for a two-bedroom apartment, which includes a woodshop in the basement.

And this is the centre of the entire rent control debate, whether it's in San Francisco, New York, London or anywhere else: Rents and property prices are undeniably high. Low- and moderate-income workers are being forced out of neighbourhoods they have been living in for years. And yet ...

... Brenkus' bargain-rate flat has turned out to be his undoing. Rent control is great if you're poor, at least in the short-term. But here is a guy who has had three decades to get his act together and buy his own place. He failed, undoubtedly, because $735 for a five-room spread tempted him into staying just a bit long, just a bit longer, just a bit longer, and he never got around to obtaining a mortgage on his own place. (You can read a bit more about Brenkus's situation here and here.)

It's a perfect illustration of the way rent control can hurt the poor and benefit the rich, even though it is intended to do the opposite. Rent control might help poor people temporarily, but because they don't own the place they are screwed in the long-term.

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; US: California
KEYWORDS: california; demagogicparty; housing; liberalhypocrisy; rentcontrol; sanfrancisco
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To: SeekAndFind

He’s not “screwed” at all - he got decades of below-market rent for a rather large place by SF rental standards, in Duboce park which is a highly desirable “hip” neighborhood.
He could find a similarly cheap place out in the East Bay somewhere, and if its about art anywhere will do I would think.
There is all the rest of Northern California. Eureka maybe, its cheap there.
The reason that starving artists went to SF in his day was because traditional businesses and old residents were moving out of town, and SF (large parts of it) was cheap. Its not cheap now, somewhere else is.


21 posted on 02/02/2016 10:29:10 AM PST by buwaya
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To: SeekAndFind

Nope, not for me.


22 posted on 02/02/2016 10:39:40 AM PST by SWAMPSNIPER (The Second Amendment, a Matter of Fact, Not A Matter of Opinion)
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To: Little Ray
Given the housing market, $735 for a five room apartment is about $1000-2000 too cheap for San Franfreako. The owner was being abused.

More expensive than you say. My daughter and her husband were renting a two room apartment in SF for $1600 for the last few years. They moved out in early 2015 for a larger place for them and their two young kids. Owner hiked the rent on the new tenant to $3000. The apartment did come with a garage for their car; garages are in shorter supply than apartments. Rent control is the cause of higher rents, because it's causing landlords to pull housing off the rental market or stay out completely, causing lower supplies. In the meantime, you can't blame landlords for hiking it on new tenants to make up for held-down rents due to rent control.

23 posted on 02/02/2016 10:43:58 AM PST by roadcat
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To: Grampa Dave

There are tons of very nice houses in Sacramento for under $1500.


24 posted on 02/02/2016 10:44:21 AM PST by buwaya
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To: Little Ray
try $3-5,000 too cheap for San Francisco depending on the area.

Many of these California tourist towns presently can do short term rentals (1 week more or less) to tourists for huge amounts. This to a certain extent drives up regular rental costs.

Additionally the short term rental phenomenon does not take into account the exceedingly high rent in San Francisco real estate based on supply (short) and demand (high) as well as the very high wages made in the technology industry in the San Francisco area compared to the 'regular job' salaries. All of which drives up rental costs to limits--when compared to normal markets--that are atmospheric.

25 posted on 02/02/2016 10:52:32 AM PST by GOP Poet
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To: OddLane

Usually it’s not leaving New York— it’s leaving Manhattan, the navel of the universe for these people.


26 posted on 02/02/2016 10:58:24 AM PST by pierrem15 ("Massacrez-les, car le seigneur connait les siens")
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To: Little Ray

the video mentioned $1800.00 per square foot rental cost in San Francisco. This guy was comparably living there for pennies. :( Now he cries like it was owed to him.


27 posted on 02/02/2016 11:03:15 AM PST by GOP Poet
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To: buwaya

True.e

People get hooked in living in the Bay area and are paying premium rents to live in the Bay area.


28 posted on 02/02/2016 11:06:40 AM PST by Grampa Dave (Delegate count to date: Cruz 8, Trump 7, Rubio 7, Carson 3, Bush 1, Paul 1)
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To: buwaya

“There are tons of very nice houses in Sacramento for under $1500.”

Sacramento? Might as well be Bakersfield or Fort Dodge Iowa


29 posted on 02/02/2016 11:08:06 AM PST by dsrtsage (One half of all people have below average IQ. In the US the number is 54%)
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To: Huskrrrr

Why buy your own place. Following the law puts the blame on voters not the tenant


30 posted on 02/02/2016 11:10:27 AM PST by morphing libertarian
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To: pierrem15
There are other worlds than these.

Things That Suck About New York

31 posted on 02/02/2016 11:10:56 AM PST by OddLane
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To: SeekAndFind

Government controlled prices or rents lead to increases in quantity demanded and reduction in quantity supplied and quality of supply, both of which lead to shortages and hatred between buyer and seller and chaos in distribution.


32 posted on 02/02/2016 11:35:46 AM PST by mjp ((pro-{God, reality, reason, egoism, individualism, natural rights, limited government, capitalism}))
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To: Grampa Dave

When we lived in San Fran in the 80’s, we paid 1100.00 for a 2 bedroom ranch with no garage. Can’t imagine what the guy is charging these days.


33 posted on 02/02/2016 12:08:05 PM PST by AllAmericanGirl44
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To: MeganC

Legal cover? There is none:

“...nor shall private property be taken for public use, without just compensation.”

Just shows just how long the Constitution has been ignored, abused and subjected to the will of of Socialism.


34 posted on 02/02/2016 12:08:20 PM PST by i_robot73 ("A man chooses. A slave obeys." - Andrew Ryan)
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To: SeekAndFind

I know an elderly widow lady who has to try to survive on a tiny Social Security check and who has to pay $500.00 a month rent in an apartment project that is supposed to charge rent according to your income. Most of the tenants are welfare queens on ‘section 8’ where they pay as little as $120.00 a month or less.
This is disgusting.


35 posted on 02/02/2016 12:18:50 PM PST by patriot08 (4th geneneration Texan (girl type))
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To: dsrtsage

If you have business in SF its two hours to downtown, Amtrak Capital Corridor + BART from Richmond. I do it the other way a couple of days a month.
If its for business this is I think worth the commute, at a savings of @$2000/month for similar standard of living.


36 posted on 02/02/2016 12:38:24 PM PST by buwaya
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>> Rent control might help poor people temporarily, but because they don’t own the place they are screwed in the long-term.

That makes a lot of sense. Not.

BI - Business Idiots.


37 posted on 02/02/2016 12:41:10 PM PST by Gene Eric (Don't be a statist!)
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To: AllAmericanGirl44

Probably 3500-5000/mo with no water views,


38 posted on 02/02/2016 1:19:58 PM PST by Grampa Dave (Delegate count to date: Cruz 8, Trump 7, Rubio 7, Carson 3, Bush 1, Paul 1)
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