Newly proposed real estate related legislation which could land on June’s ballot:
1. A measure sponsored by Supervisor Daly which would “allow financially pressed renters to apply for economic hardship status to temporarily avoid rent increases.”
2. A declaration of policy “that would put city voters on record in support of placing the northern terminus for the state’s planned high-speed rail route in the new Transbay Center at First and Mission streets” (another Daly initiative).
3. A measure which “would add a new layer of protection to the “Sunlight Ordinance” voters passed in 1984, which forbids new buildings taller than 40 feet from casting shadows on any Recreation and Park Department property” sponsored by Supervisor Chiu.
Sundry San Francisco tower and 555 Washington lovers take note of number three.
UPDATE: From the sponsors of 555 Washington:
Supervisor Chiu’s…proposed ordinance would in no way be operative on the 555 Washington project. 555 Washington is still subject to Prop. K and the project sponsors are operating within the existing framework regarding shadow impacts. Several public presentations have been made showing 555 Washington’s shadow impact to be extremely minor.
Cheers, we’ll be keeping an eye on that measure’s wording.
∙ Foot beats, renters rights, shadows eyed for ballot [SFGate]
∙ High Speed Rail Scoop: Build On Beale, Demolish The Watermark [SocketSite]
∙ Scoop: Transbay Interactive Map (And New Transit Center Website) [SocketSite]
∙ Proposed 555 Washington Street Project: Comments And Responses [SocketSite]
Hmmm, let’s see – I wonder how many borrower’s in SF have actually received ANY hardship adjustments on their loans (other than foreclosure).
Rental vacancies are increasing and prices are dropping. Not sure how one can equate the two as far as hardship goes.
maybe someone here can help me understand why this would be good for SF.
“I wonder how many borrower’s in SF have actually received ANY hardship adjustments on their loans (other than foreclosure).”
As anonn and sparky-b love to tell us the interest rate on their ARMs is lower than before the crisis. This is a deliberate public policy that is helping homeowners and is costing taxpayers trillions.
The hardship adjustment for home debtors is the multi-gazilliion dollar bailout of Fannie, Freddie and the ongoing attempt to bankrupt the FHA by pushing toxic loans into the public sector.
Oh, and the artificially low interest rates that the Fed is using to prop up the still-declining property market. And the myriad programs intended to stall foreclosure. I believe Diemos mentions this.
And all the policy and legislative omissions that allowed for the bubble in the first place.
I’m not in support of a measure that unilaterally renegotiates renters’ contracts. But to pretend that RE “owners” have not benefitted from US government largesse ($, laws, policy,) is simply delusional.
Wow, these are all stupid.
1) rents are dropping — just move
2) yes, that’s already required by the HSR proposition — waste of time and money
3) are you kidding me?
Excuse me Mr/Ms voter: which shade of red would you like your herring in?
“As anonn and sparky-b love to tell us the interest rate on their ARMs is lower than before the crisis. This is a deliberate public policy that is helping homeowners and is costing taxpayers trillions.”
I don’t love to tell you that, I only bring it up after the reset tsunami talks are raised. And it has nothing to do with this discussion as it’s about renters.
That’s reCAST tsunami, not reset tsunami. A lot of people get that wrong (I’m not picking on you, sparky-b — most of the time when you respond to people, it’s after they have said “reset”).
sorry I meant to have that in quotes “reset tsunami” is usually what is said.
I’m very thankful for the “declaration of policy that would put city voters on record in support of placing the northern terminus for the state’s planned high-speed rail route in the new Transbay Center at First and Mission streets” … and while I don’t suppose it will help the Transbay JPA get the $400 million in FRA ARRA money to build the train box and create lotsa jobs in the short-term, I hope it will give San Francisco a chance to let the California High-Speed Rail Authority know that we aren’t going to have two train stations built two blocks away from another on property that can be better utilized as high-density residential.