Fourth-generation San Francisco real estate broker and developer Paul Iantorno has managed renovation projects transforming turn-of-the-century buildings into desirable, multi-unit apartment complexes. Paul Iantorno has worked for nearly 15 years with Golden Properties, a firm with a diverse portfolio of condominiums, single-family houses, and rental units.
The real estate firm actively collaborates with the San Francisco Housing Authority to increase the city’s affordable housing stock.
In San Francisco, the cost of the lowest end market-rate rentals are nearly equivalent to the median wage of a low-income earner. This combination of high rent and low wages makes housing precarious for low-income residents, who are at higher risk of becoming homeless due to even marginal rental increases.
Statewide, nearly 30 percent of renters are using 50 percent of their earnings on housing. When housing takes up more than a third of take-home pay, it can greatly impact a person’s quality of life, impeding their ability to cover the cost of other necessities, such as food and healthcare.
In this scenario, any decrease in income or increase in expenses can lead to homelessness. San Francisco is grappling with this issue by offering legal services for renters, providing financial assistance to pay back rent, and building more affordable rental units.
