The Panama Papers and SF’s housing crisis

http://www.48hills.org/2016/04/04/panama-papers-show-sfs-housing-marked/

SNIP

The Herald had access to the documents, as part of the international team of investigative reporters that catalogued and analyzed the records. Nobody from SF was on that team, so we don’t know yet exactly how many of the high-end condos that are squeezing out more modestly priced housing are funded by corrupt money.

But it would be completely insane to believe that all of that new housing that the mayor is praising is being built without some of this illegal, secretive cash. It’s happening in every other major city, and it’s happening, probably faster, here.

We know that a lot of the luxury condos going up are not occupied by people from San Francisco, and that in fact a lot of them aren’t occupied at all. They are places to hide money.

And now we know they are places to hide illegal money.

SNIP