Dear Alex Fisch, Daniel Lee and Yasmine McMorrin,
I do not support your program of gentrifying Culver City and displacing people of color and the middle class by eliminating R-1 zoning. You are advocating a program that will decrease housing for people of color, older residents on a fixed income and young families. It is trickle down Ronald Reaganomics of deregulation that will only enrich institutional investors and out of state and foreign corporate interests.
The measures that you support empower developers/institutional investors to become our cities' urban planners. This is a recipe for incentivizing gentrification, destabilization of neighborhoods, making provision of infrastructure more costly, and empowering the construction of luxury and market rate housing that will result in contributing to the rising cost of housing. Securitization of Single-Family Homes by Wall Street and Hedge Fund investors is the newest investment vehicle making us the tenants of large corporate and foreign institutional investors and you are leading their charge by eliminating R-1 zoning. We have seen this show before.
In short, the impacts of these measures are devastating for neighborhoods-- homeowners, prospective homeowners priced out of the marketplace, and tenants. As institutional investors gobble up more and more land from individuals and families, you create a new landless class subject to rent increases to meet the demands for solid returns on investments? Will we see the construction of luxury and market rate housing alongside the creation of a new generation of homeless? Your positions are hypocritical, you say one thing but advocate for more trickledown economics. Didn’t deregulation do enough damage to the millennials in the 2008 subprime mortgage meltdown, are you asking for more? Your plan is simply welfare for the 1%.
The Democratic coalition is about to be destroyed here in California because of the push by you and Neo-Republicans called YIMBYs hiding in Democratic clothing to eliminate R-1 housing in California for the sake of the 1%. Call Joe Biden and tell him to tell Gavin Newsom to veto SB 9 and 10. It's an emergency or perhaps the Democratic Party no longer needs the suburban vote.
Say no to your greed.
Sincerely,
Ron Ostrin
Reader Comments(1)
Cooper writes:
So how do you propose we fix the housing crisis? Articles like this don't seem to be helping... Also, the proposition that more housing supply will help reduce housing costs is not trickle down economics... It's just economics.
09/03/2021, 10:22 am