Tag: real estate industry
The passage of this measure is a resounding voter mandate for desired change around homelessness, giving the city the resources it needs to finally address the crisis. For thousands of destitute San Franciscans, this has infused hope that they will soon have the opportunity to thrive that only a home can bring. Prop C only taxes large corporations that gross over $50 million and has a detailed plan for both its spending and results and mandates community oversight of the funding.
Since the mid 1970s, Democrat and Republican politicians in Washington have prioritized the interests of the real estate industry over the need for affordable low and middle income housing for Americans. The Nixon administration placed a moratorium on new approvals for the construction of all federally subsidized housing. The Reagan administration slashed the budget of the Department of HUD. Presidents and members of Congress since then have not restored it.
Funktown, which is near Lake Merritt, is rapidly being gentrified. You can still find “Funktown” scribbled on sidewalks here and there when the concrete was fresh. But economic cleansing has taken its toll on the hood. It’s just not the same any more. As the renters of Oakland are being terrorized by skyrocketing rents and greedy landlords evicting them by the thousands, city officials have mostly turned a blind eye to the economic cleansing taking place on their watch.