Dear Editor,
Re: “Day: Renters ‘left in the dust’,” Letters, Jan. 20.
Coun. Day’s letter is erroneous in two ways.
First, it assumes that buyers of the project are all speculators who will leave that residence empty. Apart from those who buy to live in it, there will be buyers who rent out the suites they purchase, thus increasing rental stocks.
I’m not talking about quick flip artists but people who invest their savings in housing for the longer term, whether as a future home for themselves or an income and retirement strategy.
The second issue is the assumption that investors are the enemy of the people or renters.
Every new home in Richmond, including some of the ones publicly funded, is created thanks to investors who take the risk, have the vision and do the work to build in the community.
Whether an investor buys a single unit for rent or builds a massive complex, they contribute homes for Richmond residents.
Julie Halfnights
RICHMOND
