"Whatever, my thoughts are now centered around the rotting elements in this nation that sucked the marrow out of a housing industry- "
Much as I dislike quoting Bawney Fwank, a paraphrase can't hurt.
More or less he says this housing market will proceed as other subsidized housing has, to the profit of those with means and the temporary satisfaction of those without.
Old inner city housing units are neglected by a landlord. Government turns them into subsidized low cost housing. They get real cheap. New money finds them cheap, moves in, renovates causes property values and taxes to rise forcing out poorer tenants. We're talking many years.
Uncle Sam caused a huge housing bubble. Many got rich as prices rose. Many bought low interest units they couldn't afford. There is a glut of housing. Many will lose houses; many houses will be vacant; all houses will lose value.
Investors will buy cheap, formerly government subsidized houses and make money when prices rise.
It's a cycle. Those who have paid attention come out ahead in the end and profit off those who don't.
As for the bankers? The bankers running the government? The monied elite?
I can't complain where they have brought America since the revolution. John Hancock, Thomas Jefferson, George Washington were not poor.
yitbos