Subsidized and/or Affordable Housing

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Anondson
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Re: Subsidized and/or Affordable Housing

Postby Anondson » July 29th, 2019, 8:58 am

Damn auto correct.

MNdible
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Re: Subsidized and/or Affordable Housing

Postby MNdible » July 29th, 2019, 11:57 am

Interview with a retired building.
I assumed that you meant to type "Retired Banker," right?

Anondson
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Re: Subsidized and/or Affordable Housing

Postby Anondson » August 8th, 2019, 4:19 pm


Anondson
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Re: Subsidized and/or Affordable Housing

Postby Anondson » October 3rd, 2019, 3:39 pm

Denmark is not happy with Blackstone acquiring huge swaths of housing and raising rents.


https://finance-commerce.com/2019/10/bl ... ent-rents/

Anondson
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Re: Subsidized and/or Affordable Housing

Postby Anondson » March 25th, 2020, 7:54 am

Manufactured homes have always had a rough go in the twin cities. A few parks at the fringes are trying to expand and are being fought.


https://www.startribune.com/mobile-home ... 569077962/

Anondson
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Re: Subsidized and/or Affordable Housing

Postby Anondson » June 15th, 2020, 9:11 pm

The Elliot Twins received funding for renovations, with commitments to not displace existing residents.

https://www.startribune.com/minneapolis ... 571280332/

Multimodal
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Re: Subsidized and/or Affordable Housing

Postby Multimodal » June 15th, 2020, 10:39 pm

That’s good, but this seems suspicious:

“The agency opened itself up to the private funding through the federal Rental Assistance Demonstration program, which transfers ownership of public housing buildings to a private entity. The private investors qualify for tax credits.”

How does that benefit society? What happens when a future administration or Congress removes those tax credits? Residents will be displaced as rents go up without a tax credit. It seems like a scam.

alexschief
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Re: Subsidized and/or Affordable Housing

Postby alexschief » June 16th, 2020, 6:28 am

RAD is just the latest in a long line of Rube Goldberg machines that the federal government sets up to direct private money to fund affordable housing. With RAD, the public housing agency maintains 99% ownership of the property, even if 99% of the funding is private, so there's not actually privatization.

It is extremely ridiculous, but it's also the system we have right now. Housing authorities are in a spot where these tax incentive schemes are the only way that they can fund repairs to deteriorating properties. In a sane world, the government would fund it directly. If 2020 has proved anything to you, we do not live in such a world.

Silophant
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Re: Subsidized and/or Affordable Housing

Postby Silophant » June 16th, 2020, 7:22 am

Will Stancil wrote a pretty good Twitter thread explainer on RAD last summer.
Joey Senkyr
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Anondson
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Re: Subsidized and/or Affordable Housing

Postby Anondson » November 24th, 2021, 8:25 pm

The Minneapolis Fed is now tracking trends in investor-ownership of housing in Minneapolis. Over 30% of North Minneapolis single family houses are owned by investors.

https://www.marketwatch.com/story/high- ... 1637710073

This tool lets you zoom around and investigate by census district. https://www.minneapolisfed.org/article/ ... ities-area

MNdible
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Re: Subsidized and/or Affordable Housing

Postby MNdible » November 29th, 2021, 9:56 am

Playing with the tool, it would appear that the huge bulk of these investors are small time operators. If you shift the cutoff up to 10 units controlled, the share drops such that the highest concentrations are around 12%. Not sure if that really makes any difference, but it's not what the narrative would lead you to believe.

SurlyLHT
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Re: Subsidized and/or Affordable Housing

Postby SurlyLHT » November 30th, 2021, 10:43 am

Playing with the tool, it would appear that the huge bulk of these investors are small time operators. If you shift the cutoff up to 10 units controlled, the share drops such that the highest concentrations are around 12%. Not sure if that really makes any difference, but it's not what the narrative would lead you to believe.
Thanks for the insight. I fear sometimes popular narratives are pushed without letting on that the story is more complex and need solutions to address the complexities.

For example the Wilder Foundation had a study saying homelessness in MN was up. I clicked on the raw data and found that a large percentage of those who were homeless in MN were basically refugees from Chicago. That additional information tells a more complex narrative which also has different needs.


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