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Over 40,000 homes sit vacant in Bay Area city

It’s hard enough to find homes in the Bay Area.

With housing prices continually on the rise, and rents inching up every year, the best we can hope for is to doomscroll real estate apps.

And it turns out, there’s another problem.

According to SFGate, there’s approximately 40,458 homes sitting vacant in San Francisco.

 

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The info comes from a report from the city’s budget and legislative analysis office:

“This increase has outpaced the number of new residential units as the vacancy rate has increased from 8.5% in 2015 to 10% in 2019 whereas housing units grew by 4.2% during that period”

SF City Supervisor Dean Preston says he hopes the report could explore whether vacancy tax policies could help.

Similar taxes have been levied in Vancouver, BC, to great success.

But whether or not we’ll see that kind of change here remains to be seen.

Until that happens, the best we can do is continue doomscrolling.

Read more on this story at SFGate.com



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