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Assault On The American Homeowner
ixty-nine percent of interests, and those in the
Americans are homeowners, middle are swept along for the
and they are under siege. A ride.
number of "unfriendly" policies,
proposals and court decisions This argument is more than a
within the past year have refrain of "the gap between the
produced an atmosphere which is rich and the poor" tune as sung
arguably antithetical to the in Kevin Phillips' "Wealth and
American dream of carving out a Democracy," Lester Thurow's
slice of the apple pie and "Fortune Favors the Bold" or
plopping a single family Lawrence Mishel's "The State of
residence on it. Working America." The "middle"
encompasses more than the
The assault weapons have catchy middle-class. Most homeowners are
titles, such as inclusionary at risk.
zoning, smart growth, density
bonus incentives, eminent domain "Eminent domain" refers to the
and mortgage interest tax reform. government's right--with fair
It could be said that compensation--to seize private
corporations and developers property for public use, such as
attack from one side while when residences could be
politicians and government bulldozed to make room for
officials, acting in the interest much-needed freeway. But in this
of the less well-off, attack from "property assault era," the U.S.
the other. Supreme Court has ruled that the
word "public" can be synonymous
In the tug-of-war between the with the word "private." Do you
"have a lots" and the "have a remember what the definition of
littles," the flag shifts back "is" is?
and forth in an effort to balance
Any private property that can Because measures related to
produce greater tax revenues in eminent domain and mortgage
the hands of a more enterprising interest tax deductions are
private property owner, such as a criticized by a vocal majority,
corporation that plans to build a they are unlikely to become
shopping mall or high rise, could permanent policy. However,
be plucked away for so-called inclusionary zoning, smart growth
public benefit. Attorney Dana and density bonus incentives are
Berliner said of the ruling, another matter altogether.
"This is a dark day for American
homeowners." "Smart growth" (SG) is supposed
to be smart, but it can be
An "attempted assault" emerged short-sighted. SG advocates
recently from President Bush's generally promote taller
tax-reform panel, which proposed structures near mass transit
replacing the mortgage interest lines, greater use of the
deduction with a meager tax existing infrastructure,
credit equal to 15 percent of the conversion of obsolete and
homeowner's mortgage interest. distressed commercial and
According to Al Mansell of the industrial buildings into
National Association of Realtors, mixed-use properties and
this could translate into a 15% preservation of the countryside
decline in home prices in some from urban sprawl. While these
parts of the country; and goals are noble and often sound,
therefore, a significant loss of the impact of high density
equity for homeowners. building upon existing residents
Fortunately, Congress is not must be factored into the
expected to countenance the equation.
recommendation.
"Smart growth" could be likened
to a finely constructed ship. bonuses. BMR initiatives ignore
Without fuel, a place to dock and market forces--such as the law of
an unobstructed sailing path, the supply and demand and the natural
boat is useless. "Smart growth" "trading up" homeownership
proponents must consider the process--by requiring or
capabilities of the existing incentivizing builders to set
infrastructure to fuel new aside a portion of their sale or
growth; they are often not rental units at below market
upgraded to handle additional rates for those deemed unable to
customers. They must factor in afford current prices.
the parking and traffic
situation--especially along mass In addition to density increases,
transit lines which may already government may permit BMR
be congested—and the current developers to erect taller
density figures for the target structures, skirt parking and
area. Los Angeles, for example, open space requirements and dot
is the densest city in the single family neighborhoods with
country with just over 7000 townhouses. Homeowners—from the
people per square mile. The plan "struggling" to the
which means smooth sailing in affluent--may, in turn, feel
Oklahoma City may stall in L.A. assaulted by the resulting
traffic congestion, parking
Directives or incentives aimed at problems, loss of backyard
providing affordable housing for privacy and inferior quality of
low or moderate income residents life on previously serene
are touched upon in most "smart streets. It could be likened to a
growth" plans, but they are cramped elevator; as passengers
integral to "below market rate" flood through the doors,
(BMR) housing programs, such as claustrophobia increases as well
inclusionary zoning and density as a fear that the community will
exceed its capacity and plummet and Wisconsin.
to its figurative death.
We cannot stop growth, but we
BMR programs exist in at least must be intelligent about it.
134 cities, towns and counties in Above all, we must not take
America, and in the following homeowner assault with a grain of
states: California, Colorado, salt.
Illinois, Maryland,
Massachusetts, New York, Vermont
About the Author:
Charlotte Laws, Ph.D. is a Greater Valley Glen Council member, an author and a Realtor. Her websites are http://www.CharlotteLaws.org and http://www.YourTopBroker.com and http://charlottelaws.typepad.com
Source: www.isnare.com
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