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To: Jim McMannis who wrote (16335)	11/22/2004 3:07:06 AM
From: John Vosilla	Respond to of 116555

<Besides making changes to that program, Bush wants a new tax credit for builders that he thinks could increase affordable housing for middle-income families by at least 40,000 units a year.> It is impossible today trying to build affordable housing in bubble markets with the high cost of land and improvements. They'd sure need some massive subsidies unless they got the land for free in the ghettos. That supply of more affordable housing will come naturally with the next housing crash.