40B ??? No more American Dream just Drone Bee Hives

I have been a strong advocate against 40B development and will continue to be one. Yet there are some issues overlooked in the discussion that I think bare raising.

First of all 40B is the only pro-housing development program that the state has in place not a sound economic policy in my opinion because of 2 things
First it by it's legislation assures a developer a 20% return on his investment show me where you and I can get 20% on any investment including the Stock market we are more likely to get 3-5% seems like a policy that rewards the rich and takes from the working families to me
Second and I think just as important is the concern with 40B eating into and eating up the single family home stock in and around Boston. We wonder why home prices are so high. Lets look at this in an economics 101 manner. if you have 1000 single family houses for sale and 10,000 families looking to buy one the price will go up as the competition bids for one of these homes. Now a 40B comes in and creates 300 apartments ( not condos or town houses) and in so going buys up the land of 100 of the single family homes in order to build. We have now brought 300 new renters into the area who will soon join the 10,000 families bidding for the now 900 single family homes. Simple supply side economics is driving single family home prices out of sight for the average working family because we are not building more homes we are building more apartments and that is the Government policy.

The question is is this a result of change that government is trying to impose on our society, by this I mean in the 50', 60's and 70's the dream was to own your own home with a lawn and a playset for the kids. In the post WWII days we build large tracts of as we call them Spec homes to accommodate this American Dream. Today our policy is to build more and more rental apartments and reduce the stock or hold steady the stock of single family homes. The purpose of which should be easy to see. Build the Hives for the multitude of worker bees industry wants and keep wages down to maximize profits. Wages stay down because of cheap housing costs when you stop the average American from thinking about owning there own home and living in a hive instead.

I think we should look closely at Economic policy in the commonwealth of Massachusetts and decide what direction we want it to take not the underhanded policies driven by special interest that over the last 50 years have brought back the concentration of wealth not seen since the days of Andrew Carnegie, Rockefeller, Getty etc. It took a depression and 2 world wars to redistribute wealth and to equally share in the success of American Capitalism. Look today and we see Gates, Walton Family(Walmart) , etc.
I believe we are seeing the expansion of the New York city model for Boston with concrete and brick Suburbs of apartments crowded with families unable to own a piece of the American Dream because of inadequate wages.

We need to think about where our policies are leading us and if this is the future we want for our children and grand children.

Thank You Ed Quinn