… and liberals get upset (I underlined the good part):
An aversion to affordable housing?
Redevelopment could slow the African-American exodus, but it’s unclear how it would address the far more challenging work of attracting blacks to the city.
At $8.82 an hour, San Francisco has one of the nation’s highest minimum wages. It offers a tax credit to working families. As of July, uninsured residents under age 65 became eligible for universal health care. Preschool is available free to every child. The city has approved more affordable housing in the past few years than at any other time in its history, Newsom says.
Many blacks here shun buying affordable housing because those homes have “equity restrictions” to keep them affordable, which means they can’t be resold at market rates.
“They see homeownership as a chance to gain assets that will grow. So they’ll go outside the city,” says Ed Donaldson, counseling director for the San Francisco Housing Development Corp.
Shouldn’t this be a cause for celebration – that inner city black families don’t want government-subsidized housing, but prefer to buy their own house and build up equity?
It should, indeed.
And while you’re at it, every city that has rent-control laws in the USA also has chronic housing shortages.
