10.16.2022 – not going to say

not going to say
I will reduce my income
to achieve this goal

Sorry to say it but after 20 some years in the news business I am not used to seeing someone, anyone, be honest in print.

Brutally honest.

In an article that everyone should read but too few people will, the New York Times quotes Eli Ungar, the founder of Mac Properties, which is based in Englewood, N.J., and owns about 9,000 apartments, including 2,000 in Kansas City, who bluntly laid out the economics of rental development.

“The folks who think of themselves as middle class and are feeling increased worry and pressure as rents go up faster than incomes, and the people who are most vulnerable in our society and desperately need housing that no developer can provide without a massive subsidy,” Mr. Ungar said. “As a citizen, I would be entirely comfortable with my taxes being higher to provide well-maintained housing for those who can’t afford it.

The question is how that is achieved, and market-rate developers are not unilaterally going to say, ‘I will reduce my income to achieve this goal.’”

As I do think this article is worth reading and I acknowledge that most folks haven’t figured out the never expiring free three day NYT accounts available at many public libraries, I have created a download version of the article you can access here.

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