tag:blogger.com,1999:blog-4039563145970308239.post5728918637184318050..comments2023-10-24T08:25:49.233-07:00Comments on Ojai Valley News Blog: Ojai Still Lacks Affordable HousingUnknownnoreply@blogger.comBlogger13125tag:blogger.com,1999:blog-4039563145970308239.post-66391537311922784982008-05-06T15:54:00.000-07:002008-05-06T15:54:00.000-07:00Thank you for taking the time to submit a reasoned...Thank you for taking the time to submit a reasoned response to my questions, in a respectful manner. Some thoughts, also respectfully submitted:<BR/><I>Rent control guarantees landlords maintain their IRR. It drives the speculators from the market.</I><BR/>Rents are determined by market forces, not IRR. Landlords who have been here 30 years charge comparable rents to those who have been here 3 years, otherwise everyone would only rent from the first one. And what is a fair IRR? 5%? 50%?<BR/> <BR/>Landlords are, by definition, speculators, but I know what you mean. So you will most likely agree recent (5 years or less) speculators have been taken to the woodshed by current market forces, and cannot sell for what they paid at this time. In example, there are 4 times as many Ojai Valley homes for sale is in 2005 according to the MLS list. IRRs are all over the place from landlord to landlord, and are negative for those landlords who bought properties after 2002. (Their alternative is to default on the loan, or sell at a loss.)<BR/><BR/><I>Well-designed mortgage assistance is typically guaranteed by the taxpayer, but need not require a dime of taxpayer money to go out.</I><BR/>By that I assume you mean a below-market mortgage rate (the return is foregone for the taxpayer, in effect other people's money). Or, a negligible down-payment, thereby transferring risk to the taxpayer (a value can be placed on this, too, and we are seeing foreclosure market forces exact the risk downside now.)<BR/><BR/><I>Ojai is finite.</I><BR/>Agreed, and rent-control and mortgage assistance will benefit some at the expense of others (with other people's money). <BR/><BR/><I>Taxpayer money belongs to the taxpayers</I><BR/>Agreed, never moreso than before it is taxed. And, like Ojai, tax dollars are finite. Using them for rent-control or mortgage assistance ensures that some other good idea will not get funded.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4039563145970308239.post-41959258186401960902008-05-05T23:26:00.000-07:002008-05-05T23:26:00.000-07:00Serious questions, but the answers with all due re...Serious questions, but the answers with all due respect are not very difficult.<BR/><BR/>Rent control guarantees landlords maintain their IRR. It drives the speculators from the market. In Ojai, we have a number of landlords who are here for the long term, maintain their properties, and hold their rents to their own longstanding IRR. Rent control will help them continue what they already do, and encourage new landlords to follow their lead. <BR/><BR/>We also have a large number of often out-of-town pure speculator-owners, who raise rent at every opportunity, often do not maintain their properties, and sell in favor of condo conversions and any other opportunity they get to realize a quick profit. Speculators drive over-development, create unsustainable insecurity among our working class renters who don't know even from month to month if they will have a home a few months down the road, and drive the unaffordability quagmire that threatens our quality of life and future. In Ojai, with our environment, demographics and economic base, there is no good policy reason to encourage speculation, increasing rents and new development. We're built out. Go up to the bench on Shelf Road and take a look. <BR/><BR/>Rent control is the number one best policy we could enact yesterday to preserve and protect the Ojai we have. It should be a no-brainer.<BR/><BR/>Well-designed mortgage assistance is typically guaranteed by the taxpayer, but need not require a dime of taxpayer money to go out. Well-designed mortgage assistance will actually bring a financial return for the taxpayer.<BR/><BR/>You ask, what about people who want to live in Ojai and are willing to pay "fair market rent" or buy? <BR/><BR/>Ojai is finite. The Ojai envisioned by our current planners, ready to accommodate all the refugees from the places they ruined, will not be the Ojai we live in. <BR/><BR/>If we sensibly limit new development to maintain what we have, you will find that many of the newcomers ready to pay "market" will not find us so attractive - because what they want is to tear down the "tiny" 3,500 square foot home they bought and build a 14,000 square foot new home. Our current planners accommodate that. But it need not be that way.<BR/><BR/>As far as new people being able to come here, we are getting older in Ojai. Normal attrition will ensure that there remains plenty of openings in our existing housing stock for new folks to come in. <BR/><BR/>Re fulfilling these kinds of initiatives "other than with someone else's money," I don't follow. Taxpayer money belongs to the taxpayers, acting as a community. If the city allowed the community the opportunity to make the decision - rather than filing lawsuits, squashing initiatives, etc. - we would learn what the taxpayers would like to do with their own money. From the turnout at public meetings on these subjects and the weight of commentary, I am pretty sure where I think the community would vote if given the chance. <BR/><BR/>Respectfully.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4039563145970308239.post-61424878059624417282008-05-05T19:34:00.000-07:002008-05-05T19:34:00.000-07:00Our city council had a chance to take a proactive ...<I>Our city council had a chance to take a proactive approach to affordable housing, without building new housing, with the initiatives that proposed rent control, mortgage assistance, etc. back in 2006.</I><BR/><BR/>What about the landlord's right to get a fair market rent for property they own? Who, other than the taxpayer, will provide the "mortgage assistance"? What about people who want to live in Ojai, are willing to pay fair market rent or buy, but will be shut out by these initiatives? Is there any way to fulfill these initiatives other than with (someone else's) money?<BR/><BR/>These are serious questions, submitted with respect.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4039563145970308239.post-2661483740660022602008-05-05T17:33:00.000-07:002008-05-05T17:33:00.000-07:00Ojai needs affordable housing, not new housing. Ou...Ojai needs affordable housing, not new housing. Our city council had a chance to take a proactive approach to affordable housing, without building new housing, with the initiatives that proposed rent control, mortgage assistance, etc. back in 2006. The city chose to sue the messenger and squash the initiatives. <BR/><BR/>Let's watch out for a buildout/development strategy disguised as concern for our residents who need affordable housing. Building more is not the solution.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4039563145970308239.post-87735159078647790802008-05-01T17:49:00.000-07:002008-05-01T17:49:00.000-07:00it is Wendy McCobb. Just like the article states.T...<I>it is Wendy McCobb. Just like the article states.</I><BR/><BR/>The article also refers to her as "McComb". Read this entire paragraph:<BR/><BR/><I>Wendy <B>McCobb</B> appeared as a spokesman for mobile home park issues. <B>McCobb</B> focused on upcoming propositions dealing with eminent domain. She vehemently opposes Proposition 98 because it contains a provision that will phase out rent control for mobile home owners across the state.<BR/>“When a person sells their coach rent control on the space will disappear,” said <B>McCobb</B>. “Why would anyone want to buy it if they can’t afford the rent? There goes our equity.”<BR/><B>McComb</B> says a lot of her park’s residents are seniors who count on the earned equity to pay for care when needed. She feels rent control is effective and helps preserve the mobile parks, the last affordable housing in many areas. <BR/>“There are already cost of living increases built into rent control,” said <B>McComb</B>. “Park owners are still making a profit.”</I>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4039563145970308239.post-12309200328997603362008-05-01T09:15:00.000-07:002008-05-01T09:15:00.000-07:00it is Wendy McCobb. Just like the article states.it is Wendy McCobb. Just like the article states.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4039563145970308239.post-22900797962925833672008-04-30T21:21:00.000-07:002008-04-30T21:21:00.000-07:00Who are the service providers who are leaving the ...Who are the service providers who are leaving the area? Name more than 2. It's one thing to claim that the sky is falling, and another thing entirely to actually be able to point a dozen chunks of it lying on the ground.<BR/><BR/>How do we know that we're not just being played and manipulated by the Building Industry Association of America? They'd look at Manhattan or L.A. and say that there wasn't enough housing. <BR/><BR/>What is affordable housing? $150,000? $100,000? $50,000? The prices that most activists (and I) are dreaming of are just never going to come around again. What kind of affordable housing do you build for a guy who's making $10 an hour working at the inn?<BR/><BR/>Last, but not least, is it Wendy McCobb, or is it Wendy McComb? A little proofreading would help us all. (Especially Wendy.)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4039563145970308239.post-73554003042185395782008-04-30T20:32:00.000-07:002008-04-30T20:32:00.000-07:00California has 500,000 people come in every year, ...<I>California has 500,000 people come in every year, but only builds housing for 250,000.</I><BR/><BR/>So, if 4 million came here every year, would we be required to provide housing for them. How about 5 million? 10 million?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4039563145970308239.post-8922242658720837532008-04-30T18:24:00.000-07:002008-04-30T18:24:00.000-07:00To revisted this pesky issue, go to OVNEWS Blog an...To revisted this pesky issue, go to OVNEWS Blog and enter "Ojai May Reject State Housing Plan"which is less tiring than searching wet and old newspapers for this recurring theme. And to maybe conclude that things are not so balanced here anymore...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4039563145970308239.post-58185900892088235122008-04-30T16:50:00.000-07:002008-04-30T16:50:00.000-07:00Ojai is special and unique. The problems we face ...Ojai is special and unique. The problems we face are not.<BR/><BR/>California has 500,000 people come in every year, but only builds housing for 250,000. The outcome should surprise no one. And the solution involves lots of (someone else's) money.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4039563145970308239.post-57100728061086214842008-04-30T09:49:00.000-07:002008-04-30T09:49:00.000-07:00A well-done timely and truthful look at this issue...A well-done timely and truthful look at this issue. It continues to be a polarizing thing evidenced by the two prior posts. It helps to have a mayor who shares a personal<BR/>perspective on home ownership.<BR/>Where do all the service people<BR/>live after working for home owners<BR/>who were forntunate enough to see their property value rise? Problem<BR/>now seems to be fewer have the<BR/>required cash to meet the sales price. PLAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4039563145970308239.post-79354083810156593612008-04-29T21:19:00.000-07:002008-04-29T21:19:00.000-07:00That's why ojai is now home to the elitist and all...That's why ojai is now home to the elitist and all there undocumented workers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4039563145970308239.post-77075725708639731142008-04-29T18:14:00.000-07:002008-04-29T18:14:00.000-07:00There are 13 mobile home parks in the Ojai Valley,...There are 13 mobile home parks in the Ojai Valley, always availabilities in them.Anonymousnoreply@blogger.com