Endorsed by the Reform Party, Ron Brown Democratic Club, Isaiah Project,
AFRAM SEIU 250, AFRAM SEIU 535, AFRAM SEIU 616, AFRAM SEIU 790, AFRAM SEIU
1000, AFRAM SEIU 434-B, CAHEED, ASNA, OMI NEIGHBORS
Email us on:
webmaster@affordable-
homeownership.org
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PRESS RELEASE
From the Affordable HomeOwnership Alliance
May 9, 2001
Followup or questions to Sarosh Kumana 415-861-4554
Debunking the (un)Affordability Myth!
SF Affordability Actual Data
The $ 450K "median" price of a San Francisco ownership housing unit that the media quotes to show unaffordability is very misleading regarding HOT.
Here is actual data on average prices of rental apartment units in multi-family buildings sold in SF between January 2000 and April 2001.
| Size of bldg |
Total # units sold |
Average price |
| 3-4 |
1850 |
$ 258,304 |
| 5-6 |
821 |
$ 168,587 |
| 7+ |
3014 |
$ 92,480 |
Source: Old Republic Title Company
These are the actual prices at which these units were sold. They are definitely "affordable" for a large number of SF tenants. There is sufficient difference between these prices and the "condominium" value, for both tenants and owners to come out ahead by making a HOT win-win purchase bargain.
The value as a rental unit is much lower than for a condominium - we encourage tenant and owner to cooperate for mutual benefit, and share the gain in value.
HOT can make homeownership affordable for SF tenants again!
Its time to debunk the (un)affordability myth!
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For any other information please contact us on webmaster@affordable-homeownership.org
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