Oh, and it’s not like this is going to be yet another plan that benefits the large investors - who gobble up the property at cut-rate prices, then turn them into slums that low-income people will then destroy - I mean, it’s not like this hasn’t been done time and again.
How about letting those who lost their jobs, then lost their homes (via short-sale or foreclosure) have an opportunity to puchase another home, after they have obtained employment and are trying to re-establish themselves? These are the folks that I would want as a neighbor, someone who values a home, and will fix it, maintain it, and drive my property values UP.
Oh, nevermind ... those folks aren’t on the Gov’t dole; and probably don’t vote DEM in large blocks .... what was I thinking?
A friend of mine has a lot of Section 8 properties. He loves them compared to regular renters. At least in California the waiting list is YEARS long, and no one wants to screw up and be evicted once their in one so they maintain the property better then his other tenants.
Ultimately, the landlord is still responsible for maintaining the property and HUD inspects it annually, also you can evict a Section 8 renter in the same way you evict any other renter.
In this case, however, with big institutions doing the investing instead of small investors you are likely to have a lot of absentee landlords.