By John Samuel
I did some research on the residents of Glendale. I found that the majority of the residents are renters, while those who own their homes are in the minority…and I read that this statistic is just the opposite of the National average. Why are the statistics different in Glendale, you might ask? It is obvious that price of home ownership has risen out of control for many years in Glendale.
Now, I can understand the desire of the City Council to help out the majority of the residents by introducing rent control into the City. But, at the same time, why is the minority being overlooked? Are home owners not an equally important part of the community?
I have lived in my Glendale home for over forty years, and if I was going to buy it today, I couldn’t afford it…no way, not even close!! My two adult children have moved on to begin their own lives. They would both have liked to continue to live in Glendale…Glendale has been their home since they were born.
But, neither of my children can afford to buy in Glendale as the home prices are way too high for younger adults just starting out.
Should low income housing only apply to rental units? Should the control of housing costs only apply to renters? How about those people who want to establish firm roots in the community by owning their own homes? Why are they being discriminated against with high home prices?
I propose that the City Council look into, and pass a City Ordinance establishing a maximum resale price of homes based on the original selling price, and allowing only a 2% per year markup whenever it goes back onto the market. (Obviously, some details like how to handle capital improvements and how to price new construction would have to be figured out.)
By the City setting the maximum price at which a home could be sold, the price gouging speculators and unethical owners will then have to sell at a reasonable City controlled price to good people who couldn’t otherwise afford to live in Glendale. Just like controlling the rents, controlling the sale price of homes will create a more fiscally diverse population.
The City Council could establish home pricing boards which would review home sales and rule on the price the owner can charge for his/her home. Allowing a home owner to set his/her own selling price would only lead to pricing many potential buyers out of the market…a discrimination aimed at the those who are low to moderate income. Why should sellers be able to set the price when it could hurt and price out buyers who want to live in Glendale?
Right now, people like my children, feel left out of Glendale. Not everyone wants to be a renter; many people would like the pride of ownership, but currently can’t afford it. Establishing price controls on the resale of homes will do a lot toward opening up Glendale to senior citizens, low income families, the disabled and young people just starting out in life.
The City Council could be a trend setter in writing and passing an ordinance that will give home ownership to the people who currently can’t afford it, and at the same time will enrich the community and encourage people to move to this fine City.
For those of you who dislike the idea of the City Government telling you how much you can sell your home for…how is this any different from the City Government telling landlords how much rent they can charge?