San Francisco Below Market Rate housing scammed by people outside BMR requirements


The issue in question:

My proposal - A public big data warehouse of property titles: property owners, properties purchase price, and the property address. The basic data about a home sale. Internet sleuths could pull the dataset into our own tools and I guarantee you we will discover an ocean of fraud among home sellers and buyers. From the number of properties owned, distance of properties, length of time between property ownership, and many more “features” to be modeled about a buyer.

This is about the simplest thing to detect. Why isn’t the state able to put a constant monitor out for property titles that match anyone in the Below Market Rate program? The lady in that video was renting out her BMR condo in San Francisco for more than a decade, while she lived in a $2 Million dollar property.

The BMR use case described here is one easy, non complex example that cities should have in a big data warehouse query to detect housing fraud. There are other similar fraud cases that basic big data analytics use cases should be detecting. I’ve looked into building my own database of property ownership using AWS Athena and Superset, but the state protects housing purchases above $5 Million dollars. What that means is if you are laundering money, as long as you purchases properties below $5 Million dollars, it goes under the radar. That’s a pointless law for detecting money laundering as nobody is going to be stupid enough to move more than $5 million through housing and moving $5 Million at a time is plenty enough money to satisfy money laundering needs.