Posted on 02/02/2024 6:34:46 AM PST by dynachrome
The City of Newark, New Jersey, held its first-ever housing lottery for residents who wish to purchase a home for only $1.
Hopeful homebuyers attended the event on Monday at Newark City Hall as a part of the Newark Homeownership Revitalization Program (NHRP), according to the City of Newark's website.
"The Homeownership Revitalization Program is a new way to enable longtime Newark residents to become homeowners at costs that they can afford," Mayor Ras J. Baraka said in a news release when the program was first announced in May. Residents of Newark who were eligible to enter the lottery had to meet specific requirements.
"You must be a Newark resident for [five] consecutive years or recently displaced," according to the NHRP FAQ release issued by Baraka and the Municipal Council.
"Displaced residents must have also lived in Newark for at least five consecutive years, within the last 10 years, at the time of application."
The future owner of these $1 homes must commit to living in the property for a minimum of 10 years, the release also noted.
(Excerpt) Read more at foxbusiness.com ...
“What could possibly go wrong?”
#1 on my list of possible wrong-going would be reneggers.
subsidized housing by any other name would still be taxation without (effective) representation.
Do they still have the pay the 15K property tax?
Newark is in Essex County, NJ. After the Newark Riots of 1967 that was the end of Newark.
The place was and is a shit hole of the worst magnitude.
Newark is 46% black, 38% hispanic, and 11% white per https://www.city-data.com/city/Newark-New-Jersey.html as of 2022
Are they going to put ankle monitors on the unlucky recipients to make sure they continue to stay incarcerated in NJ?
Heck NO Newark isn’t nice! These $1 houses are overpriced, IMHO.
How many lottery applications will be submitted in other peoples' names?
"I got a notice that I have jury duty for five days."
"That's nothing. I got a notice that I got a ten-year sentence to live in Newark, New Jersey. It must be a mistake. Now I need to get a lawyer."
As of today, 17.14 Mexican pesos = 1 U.S. dollar.
A few decades ago I had to attend a public hearing at the New Jersey Board of Public Utilities.
It was located in downtown Newark (and I lived in CA at the time).
I stayed in the downtown Hilton (one night only).
I will never forget the sight that greeted me in the lobby.
There was a big tough looking security guard holding a rifle that was taller than he was.
Lol.
I recall they were flipping them to korporations they created with the sole purpose of collecting checks from welfare recipients.
The lawsuits involved them getting renovation approvals fast-tracked and that the inspectors were turning a blind eye to everything.
So NJ’s gotta give away houses to get people to live and stay there!?!
Detroit has done this, perhaps still does.
Trouble is they are in undesirable locations and the property taxes and insurance are combined, as much as a mortgage payment, like easy 1000 to 1200 per month there. No thanks.
Yeah, but how much does a roll or three of concertina wire cost? Claymores? Phased plasma rifle in the 40-watt range?
I think a Dollar is asking too much for living in NJ.
IF the property taxes are based on PURCHASE PRICE——
CHEAP PROPERTY TAXES......
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