Folks do cash out, but black homeownerd in particular also get *pushed* out, via predatory lending/foreclosure, weaponization of code enforcement and receivership, and probate costs eating into families' equity in inherited homes.
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(Here's the worst recent example it my historically-black neighborhood, in supposedly lefter-than-left Berkeley: )https://sanfrancisco.cbslocal.com/2019/03/07/berkeley-man-home-ousted-renovation-bill/ …
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ADUs would help solve that problem. They allow house rich cash poor residents to generate revenue from their property AND be able to keep it and pass it on....oh, and they add more housing stock too!
@CasitaCoalition@BayAreaCouncil -
ADUs cost money and time to plan & build. And the people who need that add'l income are the ones with the least capacity to either pay or wait.
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Just started reading this book on this exact topic. 60 pages in and I recommendpic.twitter.com/sWHkU6LBFl
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My grandparents used to live in Menlo Park near where the Facebook campus is now. They will tell you the story of being pushed out of their neighborhood personally. I almost wrote about it and probably still will at some point.
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