Affordable Housing in San Francisco?
In San Francisco, "living in the least-affordable city in America was close to impossible for those of modest means. But in the last 18 months, declining rents and a reinvigorated Housing Authority have spawned a boom in subsidized housing for thousands of families....rents have plummeted 40 percent since 2000, according to the San Francisco Apartment Association. Meanwhile, the vouchers disbursed by the San Francisco Housing Authority under the program have not been adjusted downward from their dot-com high....That means the vouchers are, in many cases, worth more than what the open market will fetch. At a time when vacancies dot the landscape and many residents are negotiating their rents downward, Section 8 tenants have new appeal. Eighteen months ago, only 150 landlords listed their properties with the Housing Authority. Today, the list stands at nearly 4,000....The city is still starkly inhospitable to low-income families....Although rents have come down, they remain the highest in the country."
Thanks to Connie Chung