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Comment Archives: stories: News & Opinion: Letters: Last 7 Days

Re: “Letters of the Week: Our Readers Chime in on Gentrification and the closure of Picán

Greed drives away affordable rents.

Posted by Cassandra Madison on 06/16/2017 at 12:48 PM

Re: “Letters of the Week: Our Readers Chime in on Gentrification and the closure of Picán

Its sad. Oakland has adopted such an extreme form of rent control that it has doomed one of the last affordable bay area cities to inevitable gentrification.
It might seem counter intuitive, but its true.
Economist know this. I wish Kaplan had looked into it before she jumped on the rent control band wagon. So much for MIT graduates. Landlords complain that under the present laws, you would be foolish to rent to anyone who might stay longer than 5 years. And instead have to wait for a younger tenant with upward mobilty who is much more likely to move because of job transfers or they decide to buy a house. If you did choose, as an example, to rent to a mother and child they could rent the apt. till the child dies of old age (60-70 years) without the rent ever being adjusted to the market rate. Sounds crazy but true.
Sadly this leaves single moms, seniors, fixed income people, handicapped,etc. with little chance of getting an apt. now.
Maybe gentrificaion is inevitable but why put it on steroids?

Posted by bill h on 06/15/2017 at 1:26 PM

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