San Francisco Mayor Ed Lee wants to help you buy your first home.You've got to love the logic here. San Francisco limits the supply of housing through zoning and rent controls and then artificially props up demand through housing loans from the taxpayers!
So much so, in fact, that the city is now willing to lend certain first-time home buyers up to $200,000 toward the down payment on their first house or condominium in San Francisco.
That's real money, but in a city where the median sales price was $925,000 in February, is $200,000 enough to make a difference to low-income and middle-class residents being priced out of the city by the tech boom?
Monday, March 17, 2014
The San Francisco Chronicle reports:
Posted by Steve Bartin at 9:59 AM