To the editor: Contributing author Joel Kotkin’s op-ed is obvious and informative till the final paragraph (“Don’t blame the boomers for millennials’ struggles,” Feb. 26). As an alternative of a conclusion primarily based upon his previous concepts, he introduces unsubstantiated notions that belie one other agenda. He all of the sudden cites laws that should be scaled again as the explanation housing affordability has decreased.
As a not too long ago retired architect, I discovered that the development of latest and reworked housing turned problematic throughout the COVID pandemic. Many building employees both modified jobs or fled the state, inflicting the price of building to skyrocket. The disruptions of provide chains additionally led the price of building supplies to dramatically enhance. What had been $100 per sq. foot pre-pandemic was all of the sudden $300 per sq. foot.
Whereas acquiring permits actually turned extra annoying with shuttered authorities places of work utilizing beforehand untried “paperless” allow submittals, the precise value of that was not the dramatic expense all the time famous by conservatives. The laws lots of them hated supported environmental protections, office security and occupant security. In the meantime, the market manipulations of hedge funds shopping for up residential actual property is ignored as an issue.
Lastly, that manipulation of the housing provide is exacerbated by the huge switch of wealth to the highest 10% from the 90% — the remainder of us — that has occurred over the past 40 years. When company mismanagement of the financial system is ignored as the most important affect on housing costs, the entire op-ed falls aside.
David Gene Echt, Torrance
..
To the editor: I agree with all the pieces that Kotkin wrote concerning the disparities in wealth distribution by era. A larger proportion of youthful folks transferring towards expert commerce is a positive pattern. However the stubbornly excessive housing costs of metropolitan coastal cities stay an enormous downside.
Nonetheless, there’s cause to be eager for the younger: Boomers will likely be dying in giant numbers over the subsequent 20 years, and guess who will likely be inheriting all these property?
Mike Sovich, Glendale
..
To the editor: Articles on this topic all omit one crucial reality: Usually talking, millennials are the kids of boomers. Not all boomers are wealthy, capable of enhance their kids into their ideally suited life-style, and people who are are usually extra frugal, instilling their values into their kids. They didn’t instill an expectation of prosperity, however somewhat emphasised the significance of enchancment via schooling, coaching and work, one thing they inherited from their mother and father (those that grew up throughout the Nice Despair and fought in World Struggle II) in flip.
Martin Usher, Thousand Oaks
