Real estate speculators are evicting tenants, raising housing costs, and deteriorating our neighborhoods. They make the profit, but we pay the price. Now we can help slow down speculation and protect San Francisco by voting YES ON G.
Prop G reigns in real estate speculators who purchase multi-unit apartments, evict tenants, and then sell quickly for a huge profit and raise housing prices for everyone.
The real estate industry is running a $1.2 million scare campaign to defeat Prop G. They’re trying to cover up a simple truth: if Prop G passes, only real estate speculators will pay the price. Homeowners won’t pay a cent. If you live in your own home, you will never pay a penny under Proposition G.
YOU can help families stay in their homes and keep San Francisco affordable for all residents. Vote YES on Prop G!
Proposition G is specifically targeted at serial evictors and bad actors. Prop G establishes a surtax that only applies to corporations, LLCs and investors who buy and sell multi-unit apartment buildings in less than five years. These speculators are making huge profits by paying all cash, evicting tenants, and building luxury condos. Our neighborhoods are paying the price.
- There is NO TAX on all single-family homes, condominiums, or any owner-occupied home (including Tenancies-In-Common). You will NEVER PAY THE TAX unless you are buying and flipping a multi-unit apartment building. Only speculators pay the tax.
- Any property containing an owner-occupied unit is exempt. This includes homes with in-law units, which are absolutely exempt from the tax.
- Any new housing built, including new or legalized in-laws, will never pay the tax.
WHY PROPOSITION G?
- A recent study showed that not a single home listed in San Francisco was affordable to a public school teacher. We’re losing diversity and losing our families to rising housing costs. Prop G helps keep families in San Francisco by rewarding long-term ownership and not quick real estate flipping.
- More than 10,000 San Francisco tenants have been displaced by the Ellis Act since 1997. This is a crisis that hurts families and allows speculators to raise the cost of living in the city.
- 55% of Ellis Act evictions are issued by owners within the first year of ownership. Prop G will discourage this predatory housing practice.
- Almost 1,700 units of rental housing have been lost since 2009—affecting more than 5,000 tenants. Prop G will help stop these losses and help stabilize the rental market in San Francisco.
- Harvey Milk first proposed an Anti-Speculation Tax in 1978. Harvey recognized that predatory housing speculation is a dangerous force that threatens the security of San Francisco’s neighborhoods and communities. Let’s live up to his legacy and pass Prop. G.
- Both the Examiner and Guardian have endorsed Prop. G. Check out who else is endorsing the measure.
Vote Yes on Prop G this November to 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: Check out the interactive map below to see how Ellis Act evictions have affected the City and why Yes On G is so important.