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Posted on 08/16/2009 9:09:11 AM PDT by Nachum
WASHINGTON - The Obama administration, in a major shift on housing policy, is abandoning George W. Bush’s 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
(Excerpt) Read more at boston.com ...
The list, ping
Why? They will destroy it within 10 years.
putting money into NASA would result in research and inventing new things. New technologies and prestige for America.
He is all about de-developing America.
Of course the libs want rentals. That way you chip away at the concept of private property. It also bunches people together in urban clusters that make us easier to control.
Upgrading the projects for the brothers.
It will take much less than 10 years. Ghetto housing is what he’s talking about.
Creating vast Obamavills.
In the article it justifies this since there is a "need". Good grief, where in the constitution does it state that the government's role is find all the citizens needs, and then fill them?
OH NO!!!! To me, this is almost as bad as ObamaCare. Once the gov starts renting all those foreclosed homes and building in your neighborhood, you can kiss your property value good bye. Just more reparations...
Time to start looking for property in the country.
There goes the neigborhood.
Right now there's a 15% "overhang". Last thing you'd want to do is contribute to further damage to the housing industry by building more empty housing. It's far better to rent housing in these troubled times.
Home builders would disagree!
The Beer Summit Putsche.
(Most of which for quite some time have been devoted to housing the elderly ~ this is not the 1950s)
The Pottersville Projects
Moscow or any communist city.......
There are already some historical Chicago names that could be honored by naming the “projects”. e.g. Cabrini-Green or Robert Taylor Homes
The affirmative action president thinks more public housing projects are the solution!
I guess he thinks all the projects in the past have been such a big success they feel the need to build more!
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