Word: landlordism
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First, you assume that prices for tenants who might choose to purchase their homes would be $100,000 or, perhaps, $75,000; and then assert "most people can't afford $75,000, either." But the binding prices already offered by the largest landlord in the city are lower than that: 3/4 of the prices are below...
Third, you attack motives, suggesting financial greed, slyness, and deception. As the sole author of Proposition 1-2-3, I resent that inappropriate attack. I am a real-estate broker, but not a landlord. I don't own or manage one rent-controlled apartment; and no broker is needed for a landlord to sell to his own tenant...
Section 1. Any tenant who has occupied a controlled rental unit for a period of at least two years shall be entitled to purchase and occupy his or her unit as a condominium unit owner, if tenant and landlord both so agree...
...Proposition 1-2-3 will end rent control forever," VanIngen says. "If rent control goes out, I'm sure my landlord can get $1200 for my apartment and I don't know what...
Proponents of 1-2-3 counter that owners will offer discounts to tenants, who are the only ones able to buy from them. A landlord would sell a $100,000, unit at $75,000, because under rent control it is only worth $30,000, the theory goes...