Fausta's blog

Faustam fortuna adiuvat
The official blog of Fausta's Blog Talk Radio show.

Tuesday, August 28, 2007

Blacks reach for home ownership...

... and liberals get upset (I underlined the good part):
An aversion to affordable housing?

Redevelopment could slow the African-American exodus, but it's unclear how it would address the far more challenging work of attracting blacks to the city.

At $8.82 an hour, San Francisco has one of the nation's highest minimum wages. It offers a tax credit to working families. As of July, uninsured residents under age 65 became eligible for universal health care. Preschool is available free to every child. The city has approved more affordable housing in the past few years than at any other time in its history, Newsom says.

Many blacks here shun buying affordable housing because those homes have "equity restrictions" to keep them affordable, which means they can't be resold at market rates.

"They see homeownership as a chance to gain assets that will grow. So they'll go outside the city,"
says Ed Donaldson, counseling director for the San Francisco Housing Development Corp.
Betsy:
Shouldn't this be a cause for celebration - that inner city black families don't want government-subsidized housing, but prefer to buy their own house and build up equity?
It should, indeed.

And while you're at it, every city that has rent-control laws in the USA also has chronic housing shortages.

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2 Comments:

At 12:16 PM, Blogger Obi's Sister said...

If I were black, I would be insulted by the Liberal's assuming ways...

 
At 3:58 PM, Blogger Lina Trivedi said...

Wow - here in Madison, there is a similar predicament, with new housing initiatives that are to encourage African Americans to purchase homes, however several groups within our city are stating that the property should remain within affordable rates and not be resold at market value ... you are right, why would I want to buy a house that could not be at resold at market value? Check out my blog about Allied Drive if you ever have a chance - it is the same situation, different city ...

 

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