As a privately owned company whose portfolio consists largely of affordable properties, Beacon Communities profits from poverty. One does not need a degree in finance to understand that once something becomes profitable, the drive is to continue that endeavor. Therefore, the privately owned, affordable housing industry not only profits from poverty, but perpetuates poverty, as well. This happens not only in the direct reception of subsidized rents and government funds, but through the tax-credit system.
All new properties are built or existing ones rehabilitated by way of investors who receive massive tax cuts over an extended period of time. These banks, investment firms and capital groups already reap massive direct profits, so these tax breaks only increase their incredible margins. If these monies were reinvested into the root causes of poverty and homelessness, there would probably be little need of the industry in the first place. However, with the rise of neo-liberalism in the late 1970's and early 1980's, and government's eschewing of its responsibilities to its most vulnerable citizens, this is the system in which we operate.
Furthermore, affordable housing consists of self-contained properties, or communities as the industry likes to call them. We all know them better as projects. In doing so, the industry perpetuates segregation, not only of the poor, but since the majority of the poor populace in this country are BIPOC, it also perpetuates racial segregation. Finally, when the eviction moratorium ends, the potential for massive hardship in the name of profit is all too real.
Simply put, it comes down to your perspective on human worth, capitalism, and the role of government. As shelter is at the top of the hierarchy of human needs, should a person be denied housing simply because they cannot afford it? Obviously, this author has a certain perspective on the subject. While this review became an indictment of an industry, and Beacon is a good company when viewed apart from its work, it is still part of this system. This is why, regardless of the good individuals I worked with and friendships I made, I could simply no longer stomach working so directly in making other people money in this manner.
