Is Ellis Act Eviction Wave Heading to Los Angeles?Casey Millsbyline‚ Feb. 14‚ 2006On March 8, Andrew Sirkin, one of San Francisco’s most prominent land use attorneys involved with converting rental housing into Tenancy in Commons (TICs), will hold a public seminar in Los Angeles detailing the use of TICs as a means to homeownership. The event may reflect that the supply of 2 to 4 unit buildings in San Francisco that can be converted to TICs is decreasing, and those that profit from TIC conversions hope to expand their market to other cities. Their success remains dubious, as the housing market in Los Angeles may not be difficult enough to create buyers willing to share mortgages with strangers. However, should TICs catch on down south, the area could see a dramatic spike in Ellis Act evictions alongside a significant shift in their housing market. |