Look Out Outer Beltway Communities In MoCo and PGCo (Bowie: renters, condo)

[adelphi_sky]

The big land grab is in play by Trump. Put in a token (Ben Carson, a doctor) in charge of HUD? Check. Have him pass a housing plan that favors developers? Check.

Housing and Urban Development Secretary Ben Carson proposed far-reaching changes to federal housing subsidies Wednesday, tripling rent for the poorest households and making it easier for housing authorities to impose work requirements.

Carson’s proposals, and other initiatives aimed at low-income Americans receiving federal assistance, amount to a comprehensive effort by the Trump administration and Republicans in Congress to restrict access to the safety net and reduce the levels of assistance for those who do qualify.

This plan will push those that can't afford the hike further out as DC and the inner-ring suburbs continue to gentrify. Like I said, those in Bowie, Colesville, Burtonsville, etc., who think they are safe from poverty need to watch out.

The play is in. Developers are licking their chops to swoop in and snatch up all those emptied out public housing projects that people can no longer afford pushing poverty further out away from the increasingly expensive DC proper and inner beltway suburbs.

The only thing that will save homeowners is if you are located within a mile of a Metro/Lightrail station. Land will be by far cheaper than anywhere close to the Beltway. The government will take that land and create cheaper housing for low-income people.

If Amazon locates in Rockville or DC, expect this forced migration to increase post haste.

Look at Silicon Valley where even teachers are homeless or working 3 jobs to live in these expensive areas. We see it happening in DC. People who are renters in DC who want to buy homes in DC can't even afford to buy homes in their own neighborhoods. So, what's left? Housing stock farther away from DC.

https://www.washingtonpost.com/news/...=.18fcb7b9503b

[MrRational]

Originally Posted by adelphi_sky

This plan will push those that can't afford the hike further out (all major cities)

Short term? Far more likely they'll be stacking up and hot bunking.
But when they DO move? They won't be moving ANYWHERE near where they are now.

The Q is where CAN they go that their earning capacity can afford to pay their way?

[North Beach Person]

Originally Posted by adelphi_sky

The big land grab is in play by Trump. Put in a token (Ben Carson, a doctor) in charge of HUD? Check. Have him pass a housing plan that favors developers? Check.



This plan will push those that can't afford the hike further out as DC and the inner-ring suburbs continue to gentrify. Like I said, those in Bowie, Colesville, Burtonsville, etc., who think they are safe from poverty need to watch out.

The play is in. Developers are licking their chops to swoop in and snatch up all those emptied out public housing projects that people can no longer afford pushing poverty further out away from the increasingly expensive DC proper and inner beltway suburbs.

The only thing that will save homeowners is if you are located within a mile of a Metro/Lightrail station. Land will be by far cheaper than anywhere close to the Beltway. The government will take that land and create cheaper housing for low-income people.

If Amazon locates in Rockville or DC, expect this forced migration to increase post haste.

Look at Silicon Valley where even teachers are homeless or working 3 jobs to live in these expensive areas. We see it happening in DC. People who are renters in DC who want to buy homes in DC can't even afford to buy homes in their own neighborhoods. So, what's left? Housing stock farther away from DC.

https://www.washingtonpost.com/news/...=.18fcb7b9503b

Well, maybe.

The reality is that a lot of subsidized housing is privately owned and contracted with the various County Housing Authorities.

Those contracts have been expiring over the last few years and the contracts not renewed, many times at the behest of the local Housing Authority, so those units having been hitting the market rent inventory for awhile. Many have been sold by the original owners to out of state investors.

[InchingWest]

I hear that land in Somalia is pretty darn cheap.

[G1..]

Originally Posted by North Beach Person

Well, maybe.

The reality is that a lot of subsidized housing is privately owned and contracted with the various County Housing Authorities.

Those contracts have been expiring over the last few years and the contracts not renewed, many times at the behest of the local Housing Authority, so those units having been hitting the market rent inventory for awhile. Many have been sold by the original owners to out of state investors.

How is this news??Been going on awhile now.

[North Beach Person]

Originally Posted by G1..

How is this news??Been going on awhile now.

It's not really news and has been going on for several years, but someone such as yourself who's anti-Trump can certainly see the blame value.

We have, or maybe had, a low/mod income subsidized building here for seniors. The County Housing Authority decided over two years ago not to renew the agreement with the owner although it wasn't common knowledge.

The first inkling the residents had was when they got letters a couple months ago from the new owner telling them that they'd transition to market rent as their leases expired.

[G1..]

Believe me if I could blame trump for it i would but like i said i thought this had been going on for years ,I just understand what the OP is trying for here?

[lookingbutnotlost]

I think Congress has to approve this plan. They won't.

[adelphi_sky]

Originally Posted by lookingbutnotlost

I think Congress has to approve this plan. They won't.

There was even a Democratic president who tried to gut welfare programs. Trump ran on "personal responsibility." His whole administration believes in personal responsibility to the core of their very being. We all know the House tows the Trump Line. I think it would come dangerously close to being approved. If not in its present form, then some form of a graduated increase may pass.

[North Beach Person]

Originally Posted by adelphi_sky

There was even a Democratic president who tried to gut welfare programs. Trump ran on "personal responsibility." His whole administration believes in personal responsibility to the core of their very being. We all know the House tows the Trump Line. I think it would come dangerously close to being approved. If not in its present form, then some form of a graduated increase may pass.

The problem with subsidized housing was, like all the welfare type programs, that it was supposed to be a short term use for short term situations. But, as happened with many of the programs, it became a multi-generational lifestyle.

We have a condo building here, waterfront, that started out life as "luxury units" (well, ok, but that didn't quite work out).

It came on the market just when housing imploded so only a few units sold. After trying to get market rent for them and not being successful the owner transitioned a lot of the units to subsidized.

Waterfront condo units with a market rent of $2600-$3000/month being rented for $250/month and vouchers. It's a win/win for the owner. He has the units occupied (so no empty building syndrome) with the rent essentially guaranteed.

The movement of subsidized housing out of concentrations and into the general community was implemented during the Clinton Administration. Henry Cisneros was Secretary of HUD at the time.