<That area is designed to be a low income complex with plenty of public assistance. >
Not any more, condo conversions, you should have a look now. One building is empty, is being gutted, and redone, and slightly more than cosmetic work. A lot of the landlords who took the old Reagan era tax deals for low income housing have met their time obligations (many in 03-05), and are clearly moving "upscale", which also include getting poor people to buy at the top of the market, great policy <ng>.
nclihc.org
Currently, the federal government seems to be gradually moving out of the business of constructing housing for poor people, and towards encouraging local governments and private entities to tackle problems of affordable housing themselves. The twenty-year use agreements of Section 8 project-based units have begun to run out, with millions of low-income units across the country in jeopardy; no remedy has been proposed. The relative number of Section 8 vouchers issued by HUD has also been on the decline, although waiting lists across the country are as long as they have ever been.
The Bush Administration is actively promoting homeownership through various self-reliance programs. During the summer, President Bush announced a goal of increasing minority homeownership to 5.5 million families by the end of this decade.[5] Other recent programs include the Single Family Affordable Tax Credit, Self-Help Homeownership Opportunity, and The American Dream Downpayment Fund. |
