more future homeowners created to vote for more resale profit supremacist county executives like Marc Elrich

 

 

    A week left in the 9 member council and executive Marc Elrich's first term and Marc got an end of term good news bump.  The Leeland Apartments are converting to a limited equity cooperative.  Wondering what the co-op fees will be to shift the landlord's deferred maintenance costs to the new owners.  Maybe the landlord and property manager will keep their roles under co-op board contracting out management to the same management company.  The fees are a better cash-flow situation than waiting for tenant turnover, or forcing turnover with high rent increases at lease renewal time.  And each sale the co-op fee will rise for new resident owners like rents. 

 

 

 

   The equity won't be as limited as it appears at conversion time when the original converting residents sell.  They'll profit handsomely at the cost of affordability for future residents like the individual civic association members and single family home resellers do to the point that many single family neighborhoods have been under house by house redevelopment into bigger single units.  The new owners seek to repeat the resale profit they paid to the sellers.  Or maybe some Leeland co-op owners will rent out their units until the next seller's market.  The rents will represent owners 'timing the market' with rental income and most maintenance costs rolled over into rent increases at tenant turnover.   Making money from real estate rental or resale income isn't subject to the same 'rule' not to 'time the market' as equity (stock) or debt (bond) investment markets that include mutual funds, many held for retirement, as well as individual securities.  

  Marc Elrich's lack of concern for future residents 

 

 April 5, 2022

Neighborhood defenders in Silver Spring found a supporter in Marc Elrich, then an at-large council member who now serves as county executive and is running for re-election. In an October 2011 council discussion about Chelsea Heights, Elrich rejected the idea that the county needed to prioritize future residents’ housing needs.
“It’s all good and well to talk about everybody who’s coming here. The only problem is, we’re elected by people who actually live here,” Elrich said. “This idea that somehow, the most important thing for us to do is change the way things are to accommodate something in the future, seems a bit out of place.”
Homeowners in the room applauded.

 

was in action and will get him, or his endorsed successor in 2030, more of the same resale profit supremacist votes, small matched donations under public financing and volunteer hours.  

 

  Maybe Marc's twitter supporter @MoCoMillenial living in "the Takoma Park trapezoid" who supported apartment to condo or co-op ownership conversions with the option of owners being single unit (small business) landlords in 2019

 

   now tweeting as shashleeeek301

                        

   will be able to buy their rental unit in a similar conversion. 

 

  No, shashleeeek301 already owns a condominium in the 'Takoma Park trapezoid" as a HENRY (high earner not rich yet) who supports Elrich for the same reasons as

the accurate stereotypes of Marc Elrich supporters that shashleeeek301 denies.  All those stereotypes are true since Marc Elrich ran for council in 2006 with help of civic association resale profit supremacists at the Montgomery Civic Federation and more hyper-local groups fighting new housing until it's built and it's prices or rents 'conform to neighborhood character' with existing housing costs nearby.  MoCoMillenial / shashleeeek301 will likely repeat the cycle of getting 50-100% profit and credit 'the county housing market' not how resale profit supremacists like her and Elrich rigged the county housing market by their class privilege to be engaged civic activists who do not need to move often when they change jobs.  That allows building more deep community relationships with elected officials and candidates to be the dominant influencers on planning, land use and transportation policies.