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Asian Buyers

April 30, 1989

Ruth Ryon's article ("Southland Realtors Beckon Asian Home Buyers," April 16) caused me to rage out of my small apartment and loudly curse my Japanese auto.

I sense the frenzy (as in sharks) that has infected the greedy realtors who have already sold off Hawaii's homes to the highest bidders and who will now surely do the same in California. These smiling fat cats, whose million-dollar sales undeservedly earn them positions of influence, are determined to make homes in California unaffordable for all but the wealthy.

In San Luis Obispo County, realtors have successfully pumped prices out of reach of the locals. The emphasis is on big-buck homes sold to cash-rich folk emigrating from Southern California. Their rationale is that it had to happen sooner or later. If you're a homeowner, it seems like heaven. Except that when you sell, where do you go to buy?

If you're not already a homeowner, too bad. You missed your chance.

The future is clear and predictable. The former middle-class will be resigned to tacky condos/townhouses, built with the least amount of labor and materials. The masses will reside in apartment complexes and in multifamily dwellings (slums). Government subsidies will be the norm.

Guess who will be collecting the rents and homeowners fees? Guess who'll be living in the "nice" homes? Guess who'll be hiring the masses? And where will these realtors go once they've sold everything? They can join us.

DAVID DARBYSHIRE II

Morro Bay

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