The Great (Self-)Deception/Another Bond Rip-Off

At first glance — this seems like “a good thing.” But it is always prudent to examine these things using second-or-even-higher level thinking. $20 billion is a lot of money. Is affordable housing the best use of the funds? Or another short-sighted rip-off?

Perhaps BAHFA should partner with local educational, financial, and health care institutions to create a think tank that looks at the bigger picture — and come up with better ways to address the housing shortage and/or more effective strategies for preventing even greater problems in the future.

A). Subsidize mortgages for low-income homebuyers with low interest rate loans.

B). Financial literacy programs where students learn important concepts at an early age — investing in themselves through higher education, saving for the future/the power of compounding, living within their means.

C). Increase compensation for teachers, janitors, restaurant workers. Aren’t these some of the most important jobs in any society?

D). Encourage construction of accessory dwelling units.

E). Promote multigenerational living arrangements (including ADUs), which may in turn enhance the health/well-being of all families, discourage the antisocial and/or addictive behavior that often leads to homelessness, and lower the incidence of poverty (via the sharing of housing/food/child care/elder care expenses).

Ray Chen

Millbrae