I read the “letter” by Clay Daulton in the Madera Tribune of 10-19-2019. A factual letter. History as it happened. Mr. Daulton lives the effects of government and the swings of the economy created by an inept government.
Infusion of “funny money” creates just an illusion of wellness, but its only inflation. Prior to the 2008 recession, a tract house in Madera was about $115,000. With the government involvement in banking and even through the USDA, loans to low income purchasers pushed that house to $350,000. Pure inflation.
A minimum-wage earner, even two, couldn’t make the payments. Some Realtors qualified these families, the loans were sold. They put the money in their pockets and the homeowners went under. Some were qualified with multiple families in the same house! They combined income and misrepresented the loan application. Our city (and others) looked the other way, resulting in depressed neighborhoods, over crowded schools and cars parked in the yard.
All in the name of a helping hand.
Now we have rent controls. Another “helping hand.” Our honorable judge, sitting on his perch, has never seen the effects of hard work and failure due to weather, or others. He may have just heard about it, but not lived it.
Pity. Our city has been lead by some who are opportunists. Doing “deals” and not helping the city. Two have now recently left for Bakersfield and McFarland.
Funny they both went to the same area. They say, “birds of a feather flock together.”
— Bill Hoffrage,