Okay, this is not a funny riddle. I was in Paradise Valley this week and spent some time with a business acquaintance from FloridaTobias Peter, Senior Fellow & Codirector at the AEI Housing Center, and put forth an interesting theory about cars, housing, and affordable housing, and how we shouldn’t jump to the conclusion that politicians should direct more money toward “affordable” housing.
“Before concluding, however, that we need to spend more money on ‘affordable’ housing, let’s first consider another version of a simplified, yet functioning market: the car market. Just like new and existing homes, there are new and used cars. Some people own cars or homes, others lease or rent them.
“In this market, the impact of regulations on car manufacturing is more limited (although with EV mandates that is certainly changing). Cars, unlike houses, are generally affordable to broad swaths of people.“
In this functioning car market, we build a few very expensive cars for upper income people, and a lot of moderately priced cars for middle-income people, and no cars for lower income people.
In such a functioning market, no one would propose a tax credit for car manufacturers to build cars for lower income people. It is preposterous because of filtering: the concept where older used goods are passed down the income ladder as newer and more technologically advanced goods become available.
“With cars, as middle-income people buy new cars, they sell their older, still serviceable cars to someone of lesser means, and so forth until everyone, including someone low-income, owns a serviceable, but not a new car.
“The difference between the housing and car market is that car manufacturers are still able to build new cars at moderate price points allowing them to meet demand. Therefore, the root cause of housing unaffordability is government regulatory failure that has made land scarce and home building expensive. And so on…” (Mr. Peter’s full testimony can be
found
by clicking here.)
Best Regards,
Bill Owen
Club Donation to EFHS
Thank You Letter from EFHS
The club recieved a letter from Brian Turner, the Govering Board President from the Buckeye Union High School District about the contribution to EFHS Interact Club.
"On behalf of the Estrella Foothills High School Interact Club, the Buckeye UnionHigh School District administration, faculty, staff, and students, please accept our sincere thank you for the $2,000.00 cash donation to our EFHS program.
We appreciate your generosity and willingness to invest in our students. This donation will be used to further the education and participation of those involved. We are encouraged by your thoughtfulness and desire to affect the educational opportunities and quality of our schools."
Congratulations to all members that were involved with the car show on job well done!
Over the past couple of years, our club has experienced the loss of some of our cherished members. To honor their contributions and the memories they left behind, the Board has decided to extend "Honorary Membership" to their spouses.
Most recently, we are pleased to announce that the Board has approved making Julie Smith an honorary member following the passing of her husband, Gary. Julie graciously shared her thoughts on this recognition:
"Thank you for having me as an honorary car club member. That was extremely respectful to Gary."
We believe this gesture reflects the deep respect and appreciation we have for our departed members and their families. Please join us in welcoming Julie Smith as our newest honorary member and in continuing to remember and celebrate the lives of all those we've lost.
New Club Rides
No New Photos This Month
Just a quick heads-up - we've got a sweet lineup of member vehicles on display. Take a peek by clicking on the link below. If you don't spot yours in the spotlight, no worries! Just shoot us a pic or hit up Rick Goble at rick.goble@icloud.com, and he'll make sure your ride gets the attention it deserves.
We're thrilled to announce that our June Dinner at Dillon's at the Zoo was a fantastic success! With approximately 36 members in attendance, everyone enjoyed the mesmerizing saltwater fish tanks. A highlight of the evening was witnessing the serene process of putting the sharks and other marine life to sleep as the lighting gradually dimmed in the extra-large tank. It was truly an awe-inspiring experience!
Each attendee received separate checks, and the food delighted everyone.
We're already looking forward to our next dinner in September. Details will be announced soon. Thank you all once again for your enthusiastic participation!
Nothing reported for May. We kindly request members to share their achievements along with a photo via the club email address to ensure you receive the well-deserved acknowledgment you've earned. Your cooperation is greatly appreciated.
Upcoming Events
Upcoming activities on our monthly docket are great. Make sure to thank Jordan our event chairman as well Jim Leader & Douglas Bryson for the event arrangements, with their successful great follow up. Looking forward to seeing you once again at our next event.
IMPORTANT NOTICE - Because of more limited space availability to park at Cars and Coffee in the Safeway parking lot, as the new Starbucks opens in a few weeks. I'm asking that we Park more cars on the North Eastside & South Westside of the walkway island & pagoda. Therefore, we will have room for 20 cars backed in between both sides of the walkway. Also note, we'll have more open spaces on the N. Eastside in the 2nd row as well, since it is further away from Starbucks.
Kerry Morris saw a post from a past member that we thought it was worth a share.
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