I work in Real Estate. My broker handles foreclosures for Fannie mae and Freddie mac. Basically FHA foreclosures.
We are in a poor area. Best I can tell, the genius directors have decided, instead of recouping the governments losses, that they are gonna revive these failed communities. In this case the Mill Village. So, my broker goes to this old broken down POS house. He tells property managers the house is worth 9,000. So they decide “well we’re gonna fix it up” so they spend 160,000 on reno. It’s now listed for 105,0000. Got a 1998 model trailer they spent ungodly money on. It’s now listed at 165000. Real worth? Maybe....50,000? Plenty of other examples....
Our government money at work....
Your example is sadly one of many, many that I have heard -- and some seen with my own "lyin' eyes."
This mass delusion in Dems and RINOs will go on until failure is the only remaining option.