Demonstrators march to Oakland City Hall over skyrocketing rents

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It's the flipside of a booming economy where a housing crises in Oakland is hurting renters, but helping those looking to sell their homes, even in some of Oakland's toughest neighborhoods. (KGO-TV)

It's the flipside of a booming economy where a housing crises in Oakland is hurting renters, but helping those looking to sell their homes, even in some of Oakland's toughest neighborhoods.

With a giant laminated eviction notice in hand, dozens of demonstrators marched through Oakland City Hall, delivering a message to the city council and Oakland Mayor Libby Schaaf that Oakland's skyrocketing housing market is costing people their homes.

Renter Billy Martin just heard from the new owner of his apartment in East Oakland. "I get a note on my door saying he's going to raise my rent, from $800 to $1,500 and my neighbor from $1,000 to $2,000," Martin said.

"That's just outrageous that a place like Oakland would be allowing that to happen where 60 percent of the population of Oakland is renters and there are not strong enough protections for people," one person said.

According to multiple surveys, Oakland now has some of the most expensive rents in the country, with a one bedroom averaging more than $2,300 per month.

When asked how hot the market in Oakland is right, realtor Chimene Pollard said "incredibly hot."

In the meantime, home sale prices are also shooting up. A Victorian with an attached commercial space is in West Oakland was listed for $1.1 million and it sold for $1.5 million. "It's a record-breaker for West Oakland, we know this neighborhood is very special," Jackie Gallanagh said.

Not far away, a home on Chester Street was listed for $699 and sold for over $1 million.

The demonstrators know they can't do much about home prices, but they're hoping the city council approves a proposed ballot measure that would expand protections for renters.

Related Topics:
realestatehousingrentsmoneyprotesthomerentersrental propertyWest OaklandEast OaklandOakland
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