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by 1anh2kqowg
3612 days ago
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Rent control in San Francisco only applies to property that was built before rent control laws was passed (1979). So any building that was built at that time (a majority of the city's housing stock) has had an owner lose a lot of money from rent control, either by receiving less rent or by selling their property for less that it would otherwise have been worth. The fact that someone else may have purchased the encumbered property at a discounted price that takes the reduced rent into account doesn't change that. |
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Chemical plant contaminated nearby housing development, some homeowners sell at a discounted rate to investors who hope to profit after a successful cleanup.
Pension funds buy Argentine bonds in the 90's. When it becomes clear Argentina is unwilling to pay it's debts, some sell to a vulture fund who has a better chance of collecting.
In both cases, some of the current owners of distressed assets are not sympathetic. That doesn't change the fact that a major loss of housing/bond interest/rent is occurring.