 Dear Friend,
June is National Homeownership Month, but of course at People’s, every month is homeownership month!
Since 1970, our organization has been engaged in advocating for, promoting and developing homeownership all along the Central Coast of California. Through our efforts partnering with lower-income families, over 1,200 first time buyer/builder households were able to make down payments through their own sweat-equity, and move into homes that they built with their own hands. Today the median home sales price in the Tri-Counties area is around $700,000. Using that calculus, this would equate to 1,200 median-priced homes being currently valued at about $840M!
Though we have seen much success for those homebuilders, their family members, and those who have been able to share in their wealth building, our job at People’s becomes ever more challenging. In 1970, the Central Coast median home price was about the same as the median family income – under $30,000; now the median home price is about nine times the median family income. The affordability gap has never been wider.
Current day issues require multiple ways and tools to address these challenges. At People’s we continue to advocate at the local, state and federal levels for additional, new and innovative financing programs and for policies to tackle the obstacles in the path of homeownership. As a whole community we need to come together and realize that those trying to find affordable housing today are not necessarily facing the same conditions as they did in the past. Changes are needed to address a better future for our local wage earners, our low, fixed income seniors, and for those who, living with disabilities, are priced out of the market. Join us through your generous support of our annual appeal Building Together, and let’s build communities, resilience, and great futures for everyone!
I hope that this month holds great happiness and meaning for you and those in your home, as together we celebrate the brightness of these joint futures. Here at People’s, we are marking the achievementsof our College Club students who are graduating high school and are now university bound. We will also be observing ‘Juneteenth’ – it’s the 156th year since word of the Emancipation Proclamation finally reached those 250,000 still enslaved people in Texas that they were finally free. And to round out this joyful month, we acknowledge our appreciation for all Fathers in our lives on their special day of recognition.
Have a happy June!
Ken Trigueiro, CEO & President |
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