15 or 20 units could have been built for that price.
This is one of the most asinine things I have seen in PA and that is saying something.
And whats to stop someone from selling it for 90% of appraised value 5 seconds after closing?
More like a GIBS-ME-DAT strategy. What a friggin’ racket.
“Of the total cost, $950,000 will come from the State of Pennsylvania; Northampton County’s share including the grant will be $400,000;”
...keep going on this “wealth building” strategic BS and you’ll turn PA into one big slum and Pennsylvanians that actually work can pay for it!! It’s very doubtful that the a-holes that “buy” these will take care of them. They’ll be complete sh—holes in a month.
They’ll make up the losses in volume.
Money laundering and wealth redistribution all-in-one.
Sounds like a reverse business plan.
“How to completely divest your financial portfolio moving house by house. With luck you’ll wind up flat, busted broke in no time!”
Who is going to pay the taxes and the cost of maintenance on these homes? Who will pay when the heating unit goes out or there is a plumbing leak? When you have people move into homes who are used to calling the landlord when a light bulb needs replacing, you usually find that within five years, the homes are a blight on the neighborhood.
And in five years will be worth $63K.