Monday, March 14, 2011

California's Inland Empire wants to attract employers

Chino Mayor Dennis Yates said the Inland Empire needs to find a way to entice businesses to the area. One way to do so, he says, is to create upscale neighborhoods.

"The objective for cities in areas like the Inland Empire is to somehow entice these high-tech folks to move to the Inland Empire. We would have to create some type of Brentwood or Coto de Caza atmosphere to get them to move here," Yates said.

"And trust me, they will relocate their business. The Inland Empire is a beautiful place to live - Suburbia USA - but we have very few places like a Coto de Caza or Brentwood. ... So I think that is the problem."


But, Mr. Mayor, can you or will you work to create these places with public funding and governance without privatizing them via mandatory membership homeowner associations? We'll take your answer in the comments section of this post.


Anonymous said...

Why would you want to deprive the residents of Inland Empire the benefits of HOA governance? Most everything not closely associated with the state, is cheap and getting cheaper by the day. Those goods and services that the state either provides, heavily regulates or subsidizes are expensive and getting more so all the time."

The cost of HOAs to homeowners must be getting cheaper all the time.

And this...


Local private governments are expanding in number both in the United States and around the world. Local private governments are also expanding in scope, with many offering private security and a few even offering services such as day care, schools, and courts to arbitrate homeowner disputes.

Our data indicate that houses in HOAs in Northern Virginia are worth, on average, more than 5 percent more than similar houses in the same neighborhood but outside of HOAs. Given those large advantages, it is not surprising that HOAs are growing rapidly.

We have shown that HOAs increase house value, but many questions remain unanswered. Do HOAs increase house value because they offer better-quality services than local government? Or do HOAs increase house value because they offer services that local governments cannot (e.g., more restrictive zoning) or do not (e.g., greater security)? How does the governance structure of HOAs impact house value? Can we find, for example, what people are willing to pay for term limits or supermajority rules? Studying HOAs may also help us to identify how and why local governments are failing to maximize returns for their residents.

Ideally, the knowledge provided by private governments could be used to improve services for everyone.

Anonymous said...

HOAs do not increase house value. HOAs only increase housing costs.

Anonymous said...

"HOAs do not increase house value. HOAs only increase housing costs. "

Evidence for this assertion?