Prop G Keeps San Francisco Affordable

Prop-G-SF.pngPROP G - Yes on G!  San Francisco is in the midst of a deepening housing crisis. Long-time residents are being forced out of the City and newcomers are being charged rents few can afford. Meanwhile, real estate speculators from across the country and from overseas are buying up apartment buildings and converting them into condo-like suites and short-term rentals, diminishing our housing supply.

PROP G - Stop the Evictions.  Real estate speculation negatively affects all of us. Whether you are a long-time homeowner, a tenant in a rent controlled apartment or have just moved here for a job in tech – real estate speculation puts our neighborhoods and communities at risk by displacing people from their homes, driving up the cost of housing and harming our neighborhoods. Anyone who is not extremely wealthy is at risk from speculation.

Earlier this year in Sacramento, the real estate industry blocked efforts by Senator Mark Leno and Assemblymember Tom Ammiano to protect existing residents from the abuse of the Ellis Act. Now, San Francisco voters can take action to discourage the rampant speculation that threatens the fundamental character of our City.

How Prop G works:

  • The proposed speculator tax is focused exclusively to discourage flipping (quick purchase and re-sale) of apartment buildings. Only speculators pay the tax.
  • The tax would be imposed only on multi-unit properties that are bought and re-sold in less than five years.
  • There is NO TAX on all single-family homes, condominiums, or owner occupied housing units (including Tenancies-In-Common).

By voting Yes on Prop G this November, you can help discourage the flipping of apartment buildings, and encourage long-term investment in existing and new housing. Say Yes to San Francisco Values. Say Yes to Protecting Our Neighborhoods from Speculators. Vote Yes on G.

Eviction Map: Ellis Act evictions are up 170% in the last three years. Check out the interactive map below to see how Ellis Act evictions have affected the City: http://www.antievictionmappingproject.net/ellis.html

 

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Above:  Anti-Eviction Mapping Project's map of Ellis Act Evictions.  http://www.antievictionmappingproject.net/ellis.html

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