Trickle Down No More
Market urbanists preach trickle-down economics. It's proven not to work with housing supply. We have limited land, not widgets. According to studies, it takes 40 years to become affordable. The older stuff is almost always torn down because the land is more valuable than the housing, or it is rehabbed into new. It never becomes affordable. In fact, the only housing affordable to someone making less than 60% of Area Median Income ($46k or $23/hr) is subsidized housing.
If tents on public land are intolerable, we have to reverse the Reagan-era policies and build more subsidized housing, especially for people with disabilities. Reagan turned them out of institutions and broke his promise to build community-based housing. This is about homes for people who can't work, and about a minimum wage that doesn't pay the rent.
Sarajane Siegfriedt - Seattle Fair Growth
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