PRESIDENT’S MESSAGE B y N icholas D unlap D irector of P roperty M anagement , A vanath C apital M anagement
Winning Time
“Winning solves everything.” — Tiger Woods
I
n baseball, it’s the bottom of the 9th inning. In boxing, it’s the (championship) 11th and 12th rounds. In politics, it’s the month of November and we are heading into what is easily the most important political contest in decades. Property rights, property values, equity and cashflow are all at stake on November 6th as voters choose to decide whether or not to repeal a once relatively unknown and now well recognized California Act known as Costa Hawkins through Proposition 10.
Battered and Bruised
This has been a grueling fight. One that is weighed by emotion on the “Yes” side: The rent is too damn high! And one supported by fact: a repeal of Costa Hawkins would result in decreased construction of new housing units needed to support our current and growing population. While the sentiment is not lost in today’s world of an improving economy and rising rents,
the so-called Affordable Housing Act will not make rents more affordable and will not create more affordable housing. It is just another selfish ploy by Michael Weinstein of the AIDS Healthcare Foundation to curtail economic growth and development.
Socially and Economically Just
We have presented facts and data, and also helped to share stories as to how a repeal of Costa Hawkins would be so devastating for both sides (owners and renters). Renters would be doomed for years to come by a dearth of new and needed rental units and homeowners would see values decline as the result of an expanded rent control regime in California. So it’s no surprise that our industry has come together with hundreds of other important stakeholders from the social justice, business and real estate spectrum to oppose this truly flawed initiative.
Roberts Management & Investments Subsidiary of Ray Roberts Realty, Inc.
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Fax (562) 430-0693
Apartment News
www.aaoc.com
www.rayrobertsrealty.com November 2018
It All Comes Down to This
Five months of effort in our opposition have come to a head. We have conditioned our members, elected officials, policymakers and the general public. We have written dozens of articles, letters and shared countless information pieces. We have raised money and continue to solicit funding for our fight. All of this, we believe, has prepared us to seize the victory. But victory will not be ours until on November 6th, 2018, you go out and vote No on Proposition 10, ensuring that your friends, family, colleagues and others do the same. The future of California is at stake and we must take a stand. The polls don’t matter, it’s your vote that matters. Be sure to Vote No on Prop 10!
