Oppression, or Opportunity?
O, yes! the people of Fairhaven are wise, realizing that our majority Living options and opportunities, has taken a spoil.
Our current Housing Market has caused a flood against our own Massachusetts zoning laws, and Fairhaven’s 2040 Master Plan.
Zoning laws and Master Plans that lawfully declare housing opportunities, for all income levels. Really?
Yet we have literally priced out the educated Median Income earners, from having opportunities to purchase or build, their own home.
You dear readers, are a witness of what I am saying here.
Median home prices, no longer hold the humanitarian plum line, with actual Median incomes.
Median built homes were created by law for the Median income.
Let us Level with each other.
Developers, Realtors & Investors are the only people who cleverly benefit financially in the housing market, as far as equity and wealth building is concerned. Plus they receive incentives from the State, to build affordable housing, that isn’t affordable.
Hey, they are people too, But……so are the rest of us. And who said this was OK?
240 units in the name of affordable housing will certainly have the ability to shelter more people. But not only are the starting rents, exorbitant, $1650-$1850, but they come with forever increases.
It is good to know that 25% of the people will receive rental assistance through our taxpaying dollars, but what about the rest of the 75%, who helps pay for the 25%, who receives rental assistance?
Residents of Fairhaven witness the fact, via a signed petition on the warrant, that Median priced homes/ rents, have become extinct. Incomes between $68,000 to $150,000 per household are priced out of home purchasing.
Once upon a time, I worked both as a loan officer for the Down Payment Assistance Program, and for the USDA in Rural Development. Back then, before 9/11 occurred, we used to build beautiful smaller quality homes that families starting out, could afford. This is when we cared about giving people an opportunity to invest in home purchasing.
The 40B rental development will bring in a lot of people at one time, but will hardly give residents opportunity to grow equity and have consistent monthly payments. It will not provide nearly as much revenue for the town, as would building small family homes.
If everyone is struggling to pay rent, then it stifles a healthy community cash flow.
The 40B model will grow the problem we already have.
True community growth is gradual and enduring.
Since our 2040 Master Plan was finalized in 2018, there are nil opportunities for the middle income residents and first time homebuyers. These are the people who provide vital services to the community, with no opportunity to invest in their own home.
People like EMTs, Ambulance Drivers, Cardiac & Respiratory technicians, for example, are saving people’s lives, but can’t afford the $750,000 dollar homes being built here. And extravagant rents make it impossible to save for the future.
Opportunities or monopolized oppression? You decide.
Michelle Costen, Fairhaven
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