Date registered: Jul 2007
Vehicle: 1973 450 SL
Location: Castle Rock, CO
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The section 8 program is a an alternative to the government building large low income apartment buildings that become eyesores and run-down very quickly. For reference, see Cabrini Green in Chicago. The Section 8 program is attractive because the rent is paid directly to the owner regularly and the owner is responsible for repairs and maintenance and the poor folks are dispersed around the city. But investors are subject to the same market rules as owner-occupants: if the value drops and one got in the deal with little nor cash flow from the rent, there is no incentive to stay to feed the alligator.
For you politicos, in Chicago, Tony Rezko was favored with laws passed with BHOs help so that Rezko could be paid enormous fees to build apartment buildings to house the poor. He then neglected the repairs and maintenance and left the tenants to live in their own squalor. He earned his developer fees and the buildings were shut down by the city.
Housing our poor is a difficult problem. Just what are we to do with the ones who didn't do their homework, didn't get to bed alone and early, got on the needle for fun, and thought a child would make their life enjoyable and learned that another child would increase their welfare income?
Charter member of the Vast Rightwing Conspiracy and proud of it.
God Bless the America we're trying to create.
--Hillary Rodham Clinton