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President Shifts Focus To Renting, Not Owning Home
Boston Globe ^
| 8-16-09
| Joseph Williams
Posted on 08/16/2009 9:01:49 AM PDT by joinedafterattack
WASHINGTON - The Obama administration, in a major shift on housing policy, is abandoning George W. Bushs vision of creating an ownership society and instead plans to pump $4.25 billion of economic stimulus money into creating tens of thousands of federally subsidized rental units in American cities.
The idea is to pay for the construction of low-rise rental apartment buildings and town houses, as well as the purchase of foreclosed homes that can be refurbished and rented to low- and moderate-income families at affordable rates.
(Excerpt) Read more at boston.com ...
TOPICS: Breaking News; News/Current Events
KEYWORDS: 111th; agenda; bho44; bhohud; housing; hud; lping; obama; ownershipsociety; rentals; section8; slumlords; slums
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WASHINGTON - The Obama administration, in a major shift on housing policy, is abandoning George W. Bushs vision of creating an ownership society and instead plans to pump $4.25 billion of economic stimulus money into creating tens of thousands of federally subsidized rental units in American cities.
The idea is to pay for the construction of low-rise rental apartment buildings and town houses, as well as the purchase of foreclosed homes that can be refurbished and rented to low- and moderate-income families at affordable rates.
To: joinedafterattack
To: joinedafterattack
3
posted on
08/16/2009 9:04:45 AM PDT
by
org.whodat
(Vote: Chuck De Vore in 2012.)
To: joinedafterattack
GTH out of the housing market, period. No more. It’s caused enough problems as it is.
I pay for my housing, let them.
To: joinedafterattack
Will this be part of his Foreclosures for Squatters Plan?
5
posted on
08/16/2009 9:07:16 AM PDT
by
444Flyer
(FReepers and freedom lovers, we are in a gigantic TUG-OF-WAR for our nation and our Constitution.)
To: joinedafterattack
6
posted on
08/16/2009 9:07:32 AM PDT
by
jimbo123
To: joinedafterattack
Oh goody. More ‘projects’.
7
posted on
08/16/2009 9:08:09 AM PDT
by
sneakers
(Where'd my tag line go?)
To: jimbo123
8
posted on
08/16/2009 9:09:38 AM PDT
by
traumer
To: joinedafterattack
Creating Ghetto Serf Slums.
9
posted on
08/16/2009 9:10:27 AM PDT
by
SandRat
(Duty, Honor, Country! What else needs said?)
Instead of more apartments, how about creating more jobs and helping builders build a home more affordably?
To: jimbo123
this is better than encouraging ppl to buy house they couldn’t afford and going into debt to do it
11
posted on
08/16/2009 9:10:44 AM PDT
by
4rcane
To: joinedafterattack
...not everybody should have a home because they’re not willing to keep it up....they run down the neighborhood.
To: joinedafterattack
as well as the purchase of foreclosed homes that can be refurbished and rented to low- and moderate-income families at affordable rates.I knew THIS was coming.....
.....there goes every neighborhood, everywhere.
When people are "renting" government owned housing, they do not take care of it. The places are trashed within a year or two.
13
posted on
08/16/2009 9:11:08 AM PDT
by
SteamShovel
(When hope trumps reality, there is no hope at all.)
To: joinedafterattack
$4.25 billion of economic stimulus money This is from the $800 billion "economic stimulus" slush fund granted to Zer0 by the U.S. Congress.
No further votes or bills required. An open checkbook for Zer0.
14
posted on
08/16/2009 9:11:49 AM PDT
by
angkor
(The U.S. Congress is at war with America.)
To: joinedafterattack
Wahoo, return of The Projects; D-Y-N-O-M-I-T-E!!
15
posted on
08/16/2009 9:11:50 AM PDT
by
ArchAngel1983
(Arch Angel- on guard)
To: joinedafterattack
Freddie Mae/Mac finds you are underwater on their loan, they call it in...you can’t pay and have to foreclose....Obama turns it into “Government Housing” and low-rental units.
Somebody please tell me this hypothetical isn’t possible.
16
posted on
08/16/2009 9:12:27 AM PDT
by
444Flyer
(FReepers and freedom lovers, we are in a gigantic TUG-OF-WAR for our nation and our Constitution.)
To: joinedafterattack
An obvious move since the bulk of the Democrat “base” considers the government to be “the landlort” anyway.
To: 4rcane
>>> this is better than encouraging ppl to buy house they couldnt afford and going into debt to do it <<<<<
No it’s not.
It’s building $8.5 billion in new ghettos.
There has never, ever been a public housing project in America that has not become a ghetto.
18
posted on
08/16/2009 9:14:41 AM PDT
by
angkor
(The U.S. Congress is at war with America.)
To: Saoirise
Didn’t I bring this up about 7 months ago?
19
posted on
08/16/2009 9:15:09 AM PDT
by
444Flyer
(FReepers and freedom lovers, we are in a gigantic TUG-OF-WAR for our nation and our Constitution.)
To: STONEWALLS
...not everybody should have a home...The same can be said for going to college.....
.....The government throws a lot of money down a rathole sending a lot of people who should not be going to college...to college.
20
posted on
08/16/2009 9:16:06 AM PDT
by
SteamShovel
(When hope trumps reality, there is no hope at all.)
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