Mission District Rally to Stop Evictions – Yes on Prop G – “Our Mission - No Evictions”

Prop G is targeted at real estate speculators coming into the city evicting tenants and abolishing rent control. The measure targets the practice of “flipping” buildings – buying a building, evicting all the tenants, and selling for a big profit. This is a current big real estate practice responsible for a lot of the steep increase in no-fault evictions. The number of affordable rentals, already not enough for the population, is falling while the population moving to the city is increasing rapidly, causing out of control pricing most residents can't afford. Most people evicted are forced out of the City. As example of the free fall, tenant organizers have claimed the Air B&B has bought up 14,000 rent-controlled units over the past couple of years to use as short-term vacation rentals.

The measure creates a tax on a second sale of the building within a 5-year period. If a building is bought and then sold again quickly, a draconian tax from 24% of the sale price if resold in year one after the first sale, to 14% in the fifth year will be levied. This will make these types of big real estate company practices much less profitable and might reduce the escalating number of transactions. The money will go into the city's general fund.

People are mobilized citywide to promote the measure, including door hangings, phone calls, and other outreach. The real estate industry is going all out to stop it. National companies have already put in over a million dollars to stop it. Propaganda and lies are predominating. Real estate companies are working to polarize homeowners and renters, falsely claiming it will tax the seller of a single family home and that it applies to all home sales - as opposed to fast resales - with national money pouring in. Vote “Yes on G” and join the organizing!