Posted on 04/16/2013 11:04:58 AM PDT by SeekAndFind
It is the modern day replacement for LBJs Great Society aftermath where the government made every local in the country create ‘government housing’ - the projects.
These projects - public housing - have largely been abandoned to more effectively disperse the lowlifes to where worthwhile people live. The tenant pays 25% of their spendable income (not a whole hell of a lot for a loser on EBT, TANF, EITC, WICs, etc. - not taxable and doesn’t count), the government picks up the rest of the rent.
Obama has upped the ante, and just created more public housing, but we can’t call it that...the single family housing recovery IS NOT.
Ahhh, it is a relief to encounter another individual with the correct interpretation of things. More correct you could not be.
As we allow the section 8 recipients to fan out into the suburbs (in the name of equality and equal opportunity, of course), leaving behind the smoldering ruins of rundown apartment complexes in the urban areas, we are merely handing off the older suburban complexes to the new wave of entitlement recipients. The working class flee to the newer and more refined locales to escape the influx of urban refugees. It is a cycle that has been repeating for the past 50 years and will continue - the cost just increases with each turn.
“Residential construction shot up significantly in March as homebuilders broke ground on the most multi-family homes in seven years, a report from the Commerce Department showed Tuesday.”.........”Builders are scrambling to respond to heightened demand for rental units, which has been credited with most of the gains seen in the housing starts in recent months.....”
Translation: Minus very good job growth, willingness to buy single family homes is not growing much (less costly to end a one or two year lease than risk forecslosure on a 30 year mortgage), so more people looking for a residence are more willing to rent than buy, which signals capital investors not to invest to build homes, they’re investing in building apartments.
But existing home sales are also seeing a lot of investor buying to rent over primary residence buyers in many markets.
BINGO!!! gubmint money for gubmint graft.
LLS
“Isn’t that better than sitting on your ass?”
Depends upon how comfortable ones ass is. They call Gravity the “weak force.” They have no idea.
you mean go to a trade school to learn those skills?
I have my liberal arts degree from Indoctrination University, I don’t have time for manual labor!
sarcasm /off
The increase was in multi-family units according to other news that showed important information in first paragraphs of articles. Have fun with those rentals. Enjoy the slide.
They’re now housing people that cannot own a home AKA renters. There’s even concern about a bubble in rental housing.
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