Your Million Dollar Year Day 12 Affordable Housing. This week in the MA State House they are discussing rent control again. It was in 1994 when rent control, still popular in Boston, Cambridge and Brookline, was voted out and so it died. On the one side is the landlord, owner, developer of a property setting reasonable market rates for a property and reaping the benefits of their labors. On the other side is the market rates going up and up and squeezing out people who have lived in this properties and communities for years who can no longer afford market rates. Where does that put the real estate industry?
Both sides, the developers and the renters deserve their say. It is the community and the legislature that will bring forth their arguments to make their points and the public will live with those results. I am conflicted. As an agent I am all for my clients who want to spend their money purchasing a property, rehabbing it and making it available to the community at market rents. That is our capitalistic system. We already have in place laws that demand any developer provide a certain amount of the properties available at affordable rates.
On the consumer, community, individual level the spiraling market rates are killing these people and forcing them further and further out of the city and their homes for many years. In our system of debate and compromise the solution will not meet with either sides full approval. In a win-win situation that everyone always wants it usually means both sides gave up things to reach a compromise. I stand with both sides on this. A developer risks their time, money and careers on building inside our communities and the deserve the benefits of that. A consumer/renter living in an area or a home that was purchased by a developer deserves a mutually agreed upon opportunity to stay. What is your take on Your Million Dollar Year Day 12 Affordable Housing?