Word: let
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Dates: during 1980-1989
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Some of them have managed to hike up rents so much in their rent-controlled buildings that poor and even moderateincome tenants have been forced to leave, and one is a fixture at evictions at the Rent Control Board. Some are slum landlords with extremely poor tenants, who let buildings run down, and do not even fix leaking roofs...
...LET'S look at who gains from 1-2-3. Fred Meyer, who calls himself the author of Prop 1-2-3, may certainly be motivated by a personal ideology linking freedom with owning a condo, but most other supporters ($56,000 strong, according to the 1988 State Campaign Finance Report) are motivated by profit. Not surprisingly, among the list of financial contributors who helped get this condo bill on the ballot are some of Cambridge's most notorious landlords...
Realtors like Meyer stand to gain quite a bit financially, since 1-2-3 would let the new condo owners sell their apartments back when they are no longer restricted by rent control. And owners of these previously rentcontrolled apartments also stand to gain because they would be able to rent at market prices, or resell for an amount considerably higher than the original purchase price...
...just can't let up," Cleary said. "There's nothing as stale as yesterday's news, and [last night's loss] was yesterday's news...
...let proponents of Proposition 1-2-3 fool you. It is not about homeownership, although phrasing it that way is a clever ploy. Proposition 1-2-3 is a well-funded effort aimed at the erosion of rent-control. Its sponsors are only concerned with the profits that condo sales and resales could generate...