Posted on 11/29/2022 1:34:55 PM PST by ChicagoConservative27
A bipartisan group of U.S. lawmakers has pledged support for an affordable housing bill that could lead to the development of 500,000 starter homes in struggling communities over the next decade.
The Neighborhood Homes Investment Act, introduced in both the House and Senate, would offer a tax incentive to developers to minimize their risk when building or rehabilitating existing housing.
In some areas of the U.S., the cost of rehabilitating or building a home could exceed the eventual sale price. This bill would fill the “value gap,” up to 35 percent of eligible development costs for new homes.
The bill currently has the support of 124 U.S. lawmakers across 37 states, and lawmakers have stressed the urgency to pass the bill before the end the current legislative session.
“It is critical that we get the Neighborhood Homes Investment Act over the finish line,” Sen. Rob Portman (Ohio), the lead Republican sponsor of the bill, said in a statement.
(Excerpt) Read more at thehill.com ...
These will be little semi-Section 8 shit-boxes that the rest of us will pay for, and look like unkempt crap in 10 years.
The “People who annoy you” will move into the suburbs in droves to these ‘hoods’ and destroy them just like they’ve done to the cities.
“Affordable Housing” means spending $500,000 to build a one unit in a duplex or townhouse, and then providing $1,000 a month in rent support.
Not particularly affordable to the taxpayer.
Each “starter home” will probably cost 1.2 million dollars a piece to build..
Wait, what am i thinking?
A single public toilet in SF has been budgeted at 1.7 million.
Make that 5 million plus per apartment...
2008 again?
A slums expansion act.
Hey! They have other cities on the table. What about Gary, Indiana?!
A coworker is living in a trailer in my part of town which is getting worse by the day...$970 for her lot rent. Anyway, she’s selling and moving to Florida soon.
We know housing costs have gone up in recent decades, adjusted for inflation. We know that housing affordability has declined for many middle class people.
But is there a need for a government program to deal with such an issue? And would creating such a program even solve the problem, or just add complexity to the lives of builders and lenders and zoning officials in various places around the country?
Everywhere is the south side of Chicongo.
Wouldn’t that be fantastic.
Doesn’t everyone want their daughters to go to prom with Quantavious Jenkins?…
This is what caused the 2008 Fannie / Freddie bailout - and more taxpayer money missing. GM got plenty.
The answer is good jobs.
The answer is to produce things here.
The answer is to put America first.
People treat homes much differently when they have to earn it and pay for it.
Perhaps.
That would be why I am leaving...
A slums expansion act.
Any bill with the word Affordable in it, is designed to hose wealth creating citizens.
This effort is dedicated to the existence of slums, and
their expansion.
Oh, we never knew...
Here it comes.
Don’t know, but I’ll tell you this, they’re going to start building on lots where high to middle income neighborhoods are! I guarantee you 100%. If there are any empty lots next to your home guess where that housing project is going to be build? Let me give you a hint, not in Martha’s Vineyard that’s for sure! Yep, you guessed it…in your vicinity. Just think diversity and free homes for all those millions of illegal aliens who will receive their freebie in the form of free low income project apartments! And there will be nothing you can do about it! The government have their boots on our necks already!
BINGO!
This will make housing unaffordable the same way the affordable health care act made health insurance unaffordable, by design.
If I have to live with Socialism, it won’t be here.
Losers and demographic issues are growing larger in number.
The bill will be called the Ghetto Rats - Inner City Midnight Basketball Relocation Act of 2022. 🤓
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