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Zillow is very up to date on rental listings. We have a number of pre 95 complexes that have a 10% vacancy rate. For anybody to see. So Mr. Grunewald's concern seems valid. Obviously if taking all rent control buildings as one number it will get harder and harder to determine the vacancy % as we are currently tearing down huge complexes (pre 95) along Middlefield and Shoreline. Hopefully those numbers are getting subtracted from the total rent control apartment numbers when determining the vacancy rate. 5% was set as number for abandoning the RHC.

Nothing is so permanent as a temporary government program.
Milton Friedman (1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy.)

This program was pitched as at 5% vacancy it would be abandoned. The fact that they will
not even begin looking into it is unsurprising. Pushing out the person who would like to look into it is not unsurprising. Rents are dropping. Yet we maintain this bureaucracy. Go figure.