From the City Insider:
Supervisor Chris Daly plans to introduce a series of new laws that’s intended to help renters during these tough economic times — a proposal that is likely to anger landlords.
The proposals include the suspension of any rent increases that would cause a tenant’s rent to exceed one-third of their income; expansion of the rights of tenants who want to add roommates to help pay their rent; and limiting the amount of “banked” rent increases — where annual rent increases allowed under city laws are saved up and then imposed at one time — to 8 percent.
Our note to Daly (and others): stop introducing externalities and let the market take care of itself. If you let it, it will.
∙ Help for SF renters could be on the way [SFGate]
∙ San Francisco Rental Market Weakness: SocketSite Readers Report [SocketSite]