California is mired in a housing-affordability crisis — the worst in the nation. Teachers can’t live in the communities that they serve. Seniors sleep in their cars. Families face homelessness because they can’t pay sky-high rents. Experts and activists agree that help is needed immediately. Michael Hayde wants to keep the status quo.
Hayde is the CEO and chairman of Western National Group. Headquartered in Irvine, California, it manages more than 150 apartment communities throughout California and Arizona. Hayde became a multi-millionaire by operating properties that charge skyrocketing rents. He amassed a fortune, in other words, on the backs of working people.
Hayde doesn’t want that to change. He’s contributed a whopping $4.7 million* to oppose Proposition 10, the November ballot measure that allows communities to limit excessive rents. Housing crisis or not, the wealthy CEO doesn’t want anyone messing with his millions.
But that profits-over-people mindset isn’t surprising. Hayde contributed $12,500 to Donald Trump’s presidential run. Like Trump, Hayde looks out for himself before anyone else.
Hayde, in fact, joins a growing list of corporate landlords who helped Trump win the White House and are now contributing millions to oppose Prop 10. Trump confidante and billionaire landlord Stephen Schwarzman has shelled out $4.2 million to stop Prop 10; Trump’s close friend and billionaire landlord Geoffrey Palmer has contributed $2 million; and Trump supporter and multi-millionaire landlord Jackie Safier has laid out $785,500.
These billionaires and multi-millionaires will do anything to make more money, disregarding the hard-working people that they hurt. Corporate greed, in fact, has helped cause California’s housing-affordability and homeless crises, impacting millions of people up and down the state.
But we have a solution: Proposition 10.
Prop 10 is supported by trusted organizations, labor unions, and social justice organizations such as the League of Women Voters, the California Teachers Association, the California Democratic Party, the ACLU, the Southern Christian Leadership Conference of Southern California, and many others. They are not standing with corporate landlords like Hayde.
Prop 10 allows communities to put reasonable limits on excessive rents — and to check corporate landlord greed. It returns power to us, and guarantees that landlords will make a fair rate of return. Vote Yes on 10.
(*After this article and video were first published, Hayde contributed an additional $1 million to oppose Prop 10.)