Real-estate speculators bought the road and sidewalk in a gated wealthy San Francisco enclave


#1

Originally published at: http://boingboing.net/2017/08/07/presidio-terrace.html


Update: Wealthy SF homeowners get their street back
San Francisco Board of Supervisors rules that if you're rich enough to own a private sidewalk, you don't have to worry about overdue taxes
#2

Couldn’t happen to a nicer bunch of HOA assholes.


#3


#4

On the one hand,

I was shocked to learn this could happen, and am deeply troubled that anyone would choose to take advantage of the situation and buy our street and sidewalks

WTF indeed.

On the other hand,


#5

Sounds like a good setup for a sitcom!


#6

Land speculators. They don’t care who they hurt.


#7

Schadenfreude aside, Did not the home owners in good faith pay their taxes to the accountant? Would that not be a mitigating circumstance to voiding the sale? should the city not have made good faith effort to contact the property owners after going so long for non payment and give them a chance to cover the tax bill?
How is this any different from whatshisname jacking up the price on the epi pen after he bought the patent? Both acts are despicable regardless who is victimized.


#8

I agree. I imagine we’d see a different article if the sidewalks were mortgaged and BoA foreclosed without notifying the owners.

The only possible difference i see is that it looks like the HOA didn’t have it’s affairs in order, and i expect an organization to be more organized than an individual


#9

“and am deeply troubled that anyone would choose to take advantage of the situation”


#10

Plus: SF wasn’t able to swallow a loss of less than a thousand dollars that nobody noticed for like 30 years?


#11

It’s a good day when the 1% start eating each other.


#12

Chicago School of Economics… Invisible hand of the market… Greed is good.


#13

Exactly. I’d think that the city must bear some responsibility for sending the bills to the same address for so long without receiving payment.


#14

I think the city showed quite a bit of leniency in this regard. They let the bill go unpaid for 30 years, and only after failing to get a response from the HOA did they decide to auction off the property.


#15

Wow, megamillion dollar mansions! That’s like a million million, or what we public school kids learned to call a trillion. I’ll bet those houses are nice!


#16

You mean only after failing to get a response from an accountant that hadn’t worked with the HOA for decades did they decide to auction the property. Did I miss the good faith effort on the part of the city to contact the HOA when the previous methods failed? No one working for the city couldn’t knock on a door? Send a letter to one of the addresses on the street? Send a letter to all the addresses on the street?


#17

On the one hand, this is the epitome of (literal!) rent-seeking.
On the other hand, justice boner.
What do?


#18

Trump will nationalize it.

I ain’t even kidding. The mega-rich will balk. And the Chengs will lose it.


#19

I’m pretty sure this is the street where Dianne Feinstein and Richard Blum live. Ya know, just a couple hard-working people trying to get by…


#20

I think that is a faulty expectation. Its much easier for something like this to fall through the cracks in an organization where everyone thinks someone else is taking care of it. Hell, didn’t microsoft forget to renew the microsoft.com domain a while back? And Google? And how many companies forget to update their SSL certificates to have people greated one morning by “security warning: this site uses an expired certificate”.

Also whether it is corporations, governments, or individuals, people tend to pay a lot more attention to outstanding accounts receivable than accounts payable.