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To the Editor: 

Those of us who are concerned about Berkeley’s affordable housing crisis have a chance to do something about it this November. Measure M would create a dedicated source of funding to support more affordable housing in our city. 

It is clear that the private housing market alone cannot meet the housing needs of the Berkeley community. Only 10 percent of Berkeley residents can afford to buy the average-priced home in the city. Rents have been rising much faster than incomes, and waiting lists for affordable housing are long. We desperately need to find ways to support the development of more affordable units by nonprofit developers and others. Berkeley relies for the most part on federal funding to support affordable housing development. But we cannot depend on Washington to solve our housing problems. 

Measure M would raise the real estate transfer tax by half a percent on properties selling for over $350,000 to fund affordable housing, as well as fund seismic retrofits and homelessness prevention. Measure M would generate at least $1 million a year for housing. This would be enough to house dozens of Berkeley residents in quality housing.  

Thanks to the overheated real estate market in Berkeley, sellers of homes and commercial properties have reaped huge windfalls. By increasing the transfer tax, sellers would share a piece of this windfall with those who don’t have the incomes to participate in this market. 

Dan Rossi 

Chair, Housing Advisory Commission 

Berkeley