Today, US Rep. AOC & Sen. Tina Smith introduce a proposal for a federal social housing authority that would make a direct public investment in the construction of affordable homes in mixed-income complexes www.nytimes.com/2024/09/18/o...
Instead of treating real estate as a commodity, we can underwrite the construction of millions of permanently affordable homes and apartments.
Building more units is a bullshit approach when the capital class owns a large number of empty units.
Something simple and free would have a faster impact—ban vacation rentals. In recent years over 1 million homes have been removed from the supply to be used as hotels.
I greatly support this big it seems like they are just describing HUD and local housing authorities. I’m all for giving them more $ and starting to build public housing again
Some major bill elements: —New federal authority would acquire & develop projects; finance local efforts —Mixed-income housing portfolio, with very low, low, & market rate units —Repeal Faircloth limits on public housing development —$30b in annual grants & revolving loan fund
IMO - she really needs to primary Hochul.
This is a good idea. It doesn't promote public housing. It promotes affordable housing built with public investment. If the only goal is profit (as with most real estate developers 😡 we all know), people don't matter. Building for long-term neighborhoods where people matter would be a good change.
Do they explain why a "direct public investment" is better than the established LIHTC program?
Can you tell if it addresses the issue where if you make more money and go over a threshold, you lose your housing? "Social housing" in other countries just collect more money as your income rises, but you can keep the apartment.