Tonight on the Channel 11 six o'clock news, there was a piece on exactly what I have been preaching about in this blog. The story was about the cost of housing exceeding the ability of seniors and young families to pay for it. A senior lady was interviewed and she explained how the housing program worked well for her. She lived in a very nice new subdivision. Also, the parents of a newly graduated college couple said their kids had no chance to buy a home without assistance. Even low cost housing was priced well out of their ability to pay.
Please be advised. No federal agency, state agency, or local government writes any checks to any tenant, property owner, or developer to support a Housing Finance Corporation. It is all done with tax exempt bonds and tax credits.
A naysayer would say that the government is giving up taxable income to finance housing. That's not quite true, either. Even though the multi-family projects are not taxed as market rate projects, the home buyers pay property tax and tenants pay other taxes in more available disposable income purchases. And furthermore, 100% of zero is still zero. If the projects weren't built, because of lack of funds, there wouldn't be any taxes anyway.
We need a Housing Finance Corporation. All the info regarding HFC's are in this blog site. It's there for you to read and understand. If you have a question, send it to me via the "Contact" email above and I will answer it, or try to find the answer for you.
Please be advised. No federal agency, state agency, or local government writes any checks to any tenant, property owner, or developer to support a Housing Finance Corporation. It is all done with tax exempt bonds and tax credits.
A naysayer would say that the government is giving up taxable income to finance housing. That's not quite true, either. Even though the multi-family projects are not taxed as market rate projects, the home buyers pay property tax and tenants pay other taxes in more available disposable income purchases. And furthermore, 100% of zero is still zero. If the projects weren't built, because of lack of funds, there wouldn't be any taxes anyway.
We need a Housing Finance Corporation. All the info regarding HFC's are in this blog site. It's there for you to read and understand. If you have a question, send it to me via the "Contact" email above and I will answer it, or try to find the answer for you.
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