The San Francisco County Board of Supervisors held a meeting on July 4, 2025, focusing on the challenges faced by homeowners in the Below Market Rate (BMR) housing program. The session featured public comments from residents and real estate professionals, highlighting significant concerns regarding the affordability and transparency of the program.

The meeting began with a resident expressing frustration over the lack of clarity regarding the affordable resale price of their unit. They revealed that the price was set significantly lower than expected, leading to potential financial losses. This policy, implemented in 2019, was not disclosed at the time of purchase, leaving homeowners feeling trapped and uninformed about the implications of the affordable price on their investment.

Another speaker, Simon Jansook, who works for the Department of Recreation and Parks, echoed these sentiments. He detailed the financial burden imposed by the affordable price policy, which he argued unfairly penalizes homeowners while allowing previous sellers to profit. Jansook emphasized that the city’s control over the resale price is detrimental to homeowners, as it limits their ability to sell their property at a fair market value.

Realtor Jennifer Rossdale also contributed to the discussion, noting that the BMR program is failing to meet its intended goals of providing housing stability and equity. She criticized the lengthy processing times for sales, which can cost sellers thousands of dollars, and pointed out that the affordable price was not disclosed to her or her clients at the time of purchase. Rossdale highlighted the disconnect between the program's objectives and its execution, stating that potential buyers are deterred by the complexities and restrictions of the BMR program.

Public comments culminated in a call for a thorough audit of the Mayor's Office of Housing, with concerns raised about mismanagement and the urgent need for reform. The speakers collectively urged the Board of Supervisors to take action to improve the BMR program and ensure it serves the needs of San Francisco residents effectively.

The meeting concluded with a commitment from the Board to consider the feedback provided by the community, emphasizing the importance of addressing the ongoing issues within the BMR housing program.