It’s Sunday afternoon, and two-dozen San Francisco homeowners and activists are gathered in front of venture capitalist Peter Briger’s house, in the wealthy South Bay suburb of Atherton chanting, “Come out and talk to us! Don’t throw us under the bus!”
Briger is co-chairman of Fortress Investment Group, which owns the company foreclosing on some of the demonstrators’ homes. A protest two weeks earlier at the downtown San Francisco offices of the company did not draw a response, so they are taking their concerns to Briger’s home.
This probably isn't news to anyone living in San Francisco, but our City by the Bay has the highest rent in the country, and the competition out there for an apartment is fierce. San Francisco rents have gone up about 15.8 percent from a year ago while rents in other parts of the country are rising with a rate of inflation of about 2.7 percent. While some argue that owners are taking advantage of the tech bubble to hike up the market value of their properties, but there are owners who resist the urge to cash in on the rental wars.