Homes are investments, not shelter, not a basic right

A prominent San Francisco LGBTQ+ rights activist is being uprooted from his home in the Castro neighborhood after the new owner of the property nearly doubled his rent to $5,200.

Cleve Jones, 67, who moved to San Francisco in 1973 and first conceived of the Aids Memorial Quit, is reportedly moving out of his rent-controlled, one-bedroom apartment this week. The move comes after he was notified of a significant price increase from the property’s new owner, who claims that the apartment is not Jones’ primary residence.

The new owner, Lily Pao Kue, is a 30-year-old self-described stock market investor who, according to Zillow records reviewed by the San Francisco Chronicle, purchased the property in February for $1,585,000.

Who else can afford property in the city where Henry George had his great insight — With the growth of population, land grows in value, and the men who work it must pay more for the privilege?

And that tells us all we need to know about the high cost to live in desirable cities…as companies based in cities like Seattle raise wages to attract workers ($150,000/year for college graduates), the price of land will rise to meet those wages, and force those who can’t command those wages out of those cities.

Leave a Reply

Your email address will not be published. Required fields are marked *