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Even more interesting: Figure 6, two pages down, shows that spending on housing assistance is not even 1/3 of the amount of federal money spent on tax breaks for homeowners, which was $144 billion at writing, of which 70% goes to high-income households.
Oh this is hilarious, home owners get a TAX BREAK, not a pass on taxes like the so called poor, but a break, " Lets see Mr. Jone's you have a nice house so you owe $4500.00 in taxes, Oh but wait we feel sorry for you so we will graciously only take $4300.00."
I also love the "high-income households" liberal double speak, So what is HIGH-income this week 2 million?, 2 hundred thousand?, 50 thousand?. It all depends on who there looking to loot this time round.
Reuters) - The number of U.S. residents living in poverty edged up to 46.5 million last year, the latest sign that an economic recovery marked by a stock market boom has not trickled down to ordinary Americans.
Here in Florida we have the section 8 waiting list, but most everyone that needs assistance lives in subsidized housing where rents are based on income. Income for one person is max $25K to live there and for two people is $29K combined. I guess the state subsidizes this? I know the complexes get some sort of break. We have a large service industry here and it works out well for them since they can get a nice place on the cheap. Doesn't bode well for those of us making more money, but I wouldn't want to live in those complexes anyway.
I'm sick of hearing lies around here and in right wing media that all poor people get free rent, or that illegal immigrants come here and move right into government housing. A family that applies now, their kids will probably be independent before they reach the end of the waiting lists.
For the record, I am against our low-income housing system. A blanket rental assistance program would be helpful to more families, if there were to be housing assistance at all.
"I'm sick of hearing lies around here and in right wing media that all poor people get free rent,"
Here in Florida we have the section 8 waiting list, but most everyone that needs assistance lives in subsidized housing where rents are based on income. Income for one person is max $25K to live there and for two people is $29K combined. I guess the state subsidizes this? I know the complexes get some sort of break. We have a large service industry here and it works out well for them since they can get a nice place on the cheap. Doesn't bode well for those of us making more money, but I wouldn't want to live in those complexes anyway.
I think you are referring to LIHTC, which works with finance corps and HUD. It appears to vary. This appears to be part of redev. Seems to be based on median rent/income.
Low-Income Housing Tax Credit
quote:
LIHTC accounts for the majority - approximately 90 percent - of all affordable rental housing created in the United States today.[1] As the maximum rent that can be charged is based upon the Area Median Income ("AMI"), LIHTC housing remains unaffordable to many low-income (<30% AMI) renters.
...
As a result, almost all investors in LIHTC projects are corporations.
If one tracks back ownership of these properties one may be surprised who owns them. They can often maze through a corporate veil back to a holding company.
yes, its always is interesting to me that *some* posters say everyone's house has appreciated in equity. They can forecast RE market in 50 states?
its yet another form of that peculiar American denial.
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