DAMNING REPORT ON PROPOSED HOUSING MORATORIUM
A damning report released today (Sept. 11) by the San Francisco Office of Economic Analysis put an exclamation point on the Bay Area Council’s opposition to a proposed housing moratorium in the city’s Mission District. The overall report was not a big surprise — the Council has long argued that halting new residential construction at a time when San Francisco and the region are experiencing an almost-historic housing affordability and supply crisis makes no sense – but the detailed findings were stark.
This passage, in particular, highlighted just how misguided a moratorium would be:
“In terms of the potential benefits, the report finds no evidence that a temporary moratorium would prevent the demolition of existing housing and direct displacement of current residents, discourage upper-income households from moving into the Mission, or ease rising rents and housing prices in the neighborhood. It would temporarily preserve sites that could later be acquired for affordable housing, but it is highly unlikely that it would reduce the cost of any such site. Over an indefinite period, a prohibition on market-rate housing in the Mission would, in general, affect more sites, place greater upward pressure on city housing prices, and reduce affordable housing resources to a greater extent.”
The Council generally opposes housing moratoria and other restrictions that discourage new development. The Council also successfully advocated against similar measures that surfaced earlier this year in two East Bay communities. To engage in our housing policy work, please contact Senior Vice President Matt Regan.
Read the full report by the SF Office of Economic Analysis>>