San Francisco is facing our worst housing crisis in a decade, and real estate speculators are evicting long-term residents - driving up prices for everyone. Prop G will stop the speculators from evicting us and then reaping huge profits. ACCE Action Members have strongly endorsed YES on Prop G.
Prop G will protect rent-controlled housing by removing the incentive for serial speculators to "get rich quick" by evicting long-term tenants from multi-unit buildings. Investors in apartment buildings will be required to keep their buildings for five years, or pay an additional "speculator tax" on the re-sale price.
Also important to note: Prop G would be imposed only on multi-unit properties that are bought and re-sold in less than five years. There is NO TAX on all single-family homes, condos, or owner occupied housing units (including Tenancies-in-Common).