Three little scams: manipulating the housing crisis. 

Manipulating the housing crisis
Manipulating the housing crisis

“The crisis is not one of supply and demand. The imbalance of supply and demand is one of the problems. The actual crisis consists of hundreds of families being driven out of their homes by artificial rent increases, and those rent increases are driven in turn by the plan to build massive market rate housing developments. Ironically, both San Francisco and Berkeley developed their respective “inclusionary” measures in order to resolve the housing crisis. They will, however, only make the crisis worse because of what such “inclusionary plans” ignore. First, they ignore the distinct class bias contained in each proposition. Second, it is a bias that is unavoidable as long as housing development is linked to corporate financing. And third, there is the fact that all corporate developers have the same ability to avoid fulfilling their “affordable housing” requirement (a legal escape hatch). Ultimately, it is the class bias inherent in these plans that serves to mask the fact that “market rate” housing is the source of the crisis itself.”

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Source: Three little scams: manipulating the housing crisis. Category: Page One from The Berkeley Daily Planet

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