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Joined 1 year ago
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Cake day: July 9th, 2023

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  • I see your confusion. They could have worded this better, but it’s two grants being split between eight nonprofit financial institutions. My understanding is these entities will lend that money to communities to do ongoing infrastructure projects. The goal is “turning $20 billion of public funds into $150 billion of public and private investment to maximize the impact of public funds.” I don’t know how that part works exactly, but to me that doesn’t sound like a handout. Of course I would hope they would be held responsible for any mismanagement.

    As for why they need to create a financial nework to do this: These kinds of projects can take many years and sometimes need ongoing financing. Apparently, when Obama tried to fund something like this, there was a lending bottleneck where I guess banks didn’t want to finance community infrastructure projects or something, so a lot of the funding just sat there until the grants expired. This is supposed to prevent that from happening.





  • An enormous chunk of housing sits unused and empty because real estate speculators want to rent them out at exorbitant prices rather than use it for it’s intended purpose of having a roof over people’s heads.

    If they are renting it out at exorbitant prices, then it’s not empty. If it’s empty, then they get zero money. You’re saying it’s both, which makes no sense. Interest rates and property taxes are both high right now. It costs investors money to hold empty property without renting it out. They don’t have to wait for people to pay inflated prices. The demand is already there.

    I’m all for more regulation, especially for developers and investors. Stiupulate that at least 50% of all new housing built be affordable. Give incentives to rehab old condemned properties. And stop letting AI algorithms determine rental prices.