#BoycottGreed: A Solution to the
Affordable Housing Shortage
Cities across America are experiencing
a phenomenal shortage of housing that is affordable for those earning
minimum wage with some reporting that housing is becoming out of
reach for what's left of the middle class. How do we solve this
problem knowing that local governments' efforts to encourage
construction of affordable housing through tax breaks, reduced fees
and other enticements often end up far short of filling the vast
need? How do we address the underlying profit over people motif that
is blocking construction of affordable housing?
Let me be very clear: we have all the
money we need. The United States possess the bulk of the world's
wealth. We know that wealth is concentrated in the hands of the top
1%. We now know that personal profit—greed—is the only goal of
the billionaire in the White House who champions deregulation of
multiple industries and tax cuts for all of his wealthy supporters
who share the sole goal of 'more for me, none for you.' We know that
money does in fact buy power and that power favors its owner—a
betrayal of its allegiance to the people. So, how to get the money we
need to build housing for all of us working people earning a paltry
minimum wage...
About a month ago, along came
#BoycottHomeDepot because two of its old fart founders contributed
several million dollars to Trump's campaign and spit the name
'Antichrist' at a progressive who staunchly supports workers rights,
equality, justice. We know that Home Depot has been raising its stock
price through buybacks over the last ten years. Every quarter, Home
Depot cuts employee hours—forget that minimum wage income means
cost-burdened housing and reliance on food stamps—in order to
squeeze expenses to fatten the wallets of the biggest shareholders.
They have banked billions with this scheme that makes their earnings
look better and enriches shareholders while employees struggle merely
to survive. But, Home Depot is not the only corporation banking on
the slavery of the working poor.
Apparently, Amazon has scrounged up $25
billion to conduct a stock buyback; Home Depot is planning a $15
billion buyback. Other buyback monsters include Apple, Kohl's,
AutoZone, Travelers, Northrup Grumman, Lowe's, Gap, and IBM. CNBC
reports that buybacks worth more than $900 billion last year set a
new record. So, how many affordable housing units could be built with
$900 billion? Divide $900 billion by the estimated cost of $86,000
per unit and we have 10,465,116 units. Wow. The National Low Income
Housing Coalition reports that the U.S. Has a shortage of over 7.2
million affordable housing units. Last years stockholder jackpot
would fill that shortage and then some.
Colorado Springs has a shortage of over
25,000 affordable units; the cost of building 25,000 units at $86,000
per unit would be just over $2 billion. Home Depot alone could build
all the needed units and have $13 billion left over. Still think we
can't solve the affordable housing shortage? We can. #BoycottGreed
until the corporations pay their fair share.
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