How Government Subsidized Housing Becomes Unsustainable and the Going Galt Revolution!
Here is an interesting article from the Buffalo News on the growing expense to local governments of providing subsidized housing within their communities. One has to wonder, given the inordinate amount of corruption, influence peddling, and general kleptocratic reign of the Democratic Party in most urban areas in the U.S., why housing projects like this aren’t investigated more thoroughly. As it is, projects like this, sustained by what should be a now dubious socialist morality giving preferences to “the poor” (Democratic operatives), are a slap in the face to taxpayers in an already depressed and over-taxed area.
As the article indicates, the government is now spending more than twice the amount on developing these housing projects than they are selling them for. If this is becoming the norm, it is simply not sustainable and to continue a practice like this in light of the state of government finance, it is supremely irresponsible.
An amazing quote from the article:
Private companies are no longer involved in developing these homes. Instead, subsidized housing in Buffalo is exclusively the domain of nonprofit organizations, including City Hall. The federal government now provides full construction funding as well as subsidies as long as home buyers qualify as low or moderate income.
That’s generally the case with 50 subsidized homes that Belmont Shelter Housing Corp. developed in the Hickory-Kane-Kamp Road area at the City of Buffalo’s request. The homes cost, on average, $190,000 each to build, with the largest houses in the group costing as much as $200,000 for construction, soft costs, subsidies and soil remediation.
The houses sell for an average $82,000 after subsidies.
This is the kind of governmental malpractice and disregard for over-burdened taxpayers that inspire the acerbic quotes from the comments section of the article. I include some of them; they are priceless. Going Galt anyone?
*Well, it’s 5am, have to go to work to help the poor who made bad decisions in life have a better house then me. You’re welcome.
*What bothers me is the union practice of block voting for Democrats. Buffalo has been so heavily Democratic for so long that any beneficial political opposition wilted away decades ago. Another voting block consists of African Americans with over 90% voting for Democrats. Couple the two voting blocks and they are invincible. Everything is stagnant. This is why people give up hope and leave. Two of my children never returned after going away to college. Both are doing very well. Most of my family is gone. I am still here fighting for the rest and for friends, but I too feel New York State is hopeless.
*You Buffalo leftie loonies are complaining? Give me a break. Why do you vote in these liberals into office and then complain about it. Next you’ll gripe about Obamas health care as you wait in line months. But hey the 30 million illegal immigrants will be covered at your expense. I might that 30million will be 10x that when they bring their families in. So figure 200 million low income, no money, no education coming to a theatre near you. You got what you deserved people of Buffalo.
*The cost of materials and labor for these homes is probably more like 115,000. and the rest is the profit the builder/developer makes. They don’t care if they sold for a dollar, they got their money in the bank right from our tax dollars
*They are not proceeding with Phase 3 because the News and the public are finally watching what they’re doing. Don’t worry. They’ll just do it somewhere else, so they can launder the money to their friends and supporters, all in the name of redevelopment.
*The less you do, the more you get. Real incentive to be a success. If you average out all of the help given, it works out to being similar to having a job that pays $13/hr. So, work a job, clean the snow off your car, drive to work, work 8 hrs, drive home, and pay taxes OR sit on couch and play video games and get free gas, free food stamps to buy the best food possible, get free equity and pay no taxes?Who are the real dummies here? Yes, us working stooges with a conscience. I am going to open up a Church of Foodstamps so I can get in on some of this free money!
*I live in a decent, yet modest, home that I bought 16 years ago for $90,000. I figure I might be lucky to get $120,000 for it now. It just sickens me that my tax dollars go to subsidize someone purchasing anything other than a “starter” home.I sure wish the government would sell me a $200,000 + home for $90,000 or less. This just sucks!
*Glad my wife and I work 3 jobs so low income people have a better house then us. I’m happy I get to get up at 4:30 and work 10 hours tomorrow getting a project out so low income people can have a better house then us. Keep working people, millions on welfare are depending on you.
*Wow the two guys I was behind at the store the othere day were buying (now cout them) 27 pkgs with 2 steaks in a pkg of T Bone steaks. Now that a whole lot better than my family eats and my wife and I both work hard. And guess how they paid for those steaks, you guessed it, food stamps
*Great! More rhetoric-have you ever even driven through the east side. Look at all of the side streets off of Fillmore & Jefferson. There is no “revitalizing” these neighborhoods. Nobody in the year 2010 with a family and a job and a sense of community responsibility is going to choose to live there. Give successful african americans a chance to live in a decent neighborhood somewhat close to their own people, and maybe we find that they become the role models-not the drug dealers.
*make sure to include enough money in the subsidy to provide Glocks to all the family members who live there….and “morning after pills” for all the females…..