A tenant in a low-rent apartment can often buy that unit for a lower price because the economic value of that unit to the Owner is related to the amount of the rent. Elimination of rent control protections for apartments rented by corporations Elimination of rent control protections for property owners who themselves live in a rental Means-limits for rent control protections to twice the SF median household income Together, these steps will reduce demand for limited housing. This will reduce prices for everyone else, as the steep demand curve meets increased supply in a new equilibrium. AHA does not advocate the elimination of general rent control. But rent control protections should not be extended to those who clearly are not needy, and are abusing the intent of rent control.
Tenants can qualify for their loans, if needed, by having multiple family, friends, roommates etc.
This will also be especially useful to those on fixed incomes, plus those who have derogatory or negative credit references, thus making home ownership possible for the credit-challenged. The after-tax cost of homeownership can often be the same as or less than the cost of the rent paid, because homeowners can deduct their mortgage interest and property tax on their Federal and State tax returns. This significantly reduces their tax liability, increases take-home pay, and lets Uncle Sam help pay for their mortgage. These amounts are affordable and within reach of median income families, and lower income families. There will be no contribution required from the City s general fund.