San Francisco Tenants Turn To HomeShare As Housing Crisis Gets Worse

Housing Crisis

It is getting harder to find affordable housing in San Franscisco. Many people are having such a hard time finding affordable housing that they are opting to live in converted living rooms for $1,125 per month. HomeShare is a program that allows people to rent out spaces in expensive buildings. The tenants can split up the spaces in order to save money on rent.

HomeShare has been around since 2016. It allows people to get homes that they otherwise would not be able to afford. It also has a program that allows people to find roommates. Jeff Pang is the CEO and founder of HomeShare. He has not shared any specifics about his program. However, he did state that 30,000 people in the Bay area sent in an application to HomeShare.

Jeff worked for Uber in the past. He shares an opinion that is different from many others' opinion. Many people believe that San Francisco's housing crisis is caused by a lack of housing. However, Jeff says that this is not true. There is plenty of housing in San Francisco. He said that most of the housing is located in the luxury segment.

Many millennials are moving to urban areas, which are typically higher-prices. HomeShare is striving to meet the demands of millennials. This company brings down the cost of rent by removing anemities such as maid service and free internet. Many of the buildings already have fitness centers and pools. Some of them are conveniently located near the downtown area.

If you want to get a converted room in San Francisco, then the prices start at $1,125 per month. The cost of a private room is $1,500 per month. If you want a room with a private bathroom, then you can pay $1,700 per month. The average renter in San Fransciso pays $3,000 per month.

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