The for-rent ads in the San Francisco Chronicle on Sunday, April 2, 1961, sound dreamy:
Luxurious spacious 4 rooms. Many walk-in closets. All Utilities included. $155 a month in the Marina.
Deluxe 3. Garbage disposal, wall-to-wall carpet. Garage included. $125 and up in Pacific Heights.
Spectacular Marine view. 1-bedroom, sun deck. $175 on Telegraph Hill.
Those were the good old days, right?
In fact, in the early 1960s, rents in San Francisco were rising by an average of about 6.6 percent each year. As it turns out, that’s the same annual rate they would later rise in the 1970s, and in the late 1990s, and in the mid-2000s. It’s the rate they’re rising today.
How many units would we need to build in order to slow or reverse the rent increases? You can find the whole article on Wonkblog.