You may have missed some of the most interesting news in Chicago last week.
It wasn’t as exciting as the cougar shot to death in an alley, or the earthquake that shook us out of bed, but in its way, it was as startling:
On Thursday, for the first time in more than a decade, the Chicago Housing Authority opened its waiting list for federally subsidized rental vouchers. By the end of the day, with a month left to apply, people had picked up more than 256,000 application forms.
More than a quarter-million. In a day.
Read More of Too Much Housing Supply? Then Subsidize More Housing, Right? off-site...
John Powers says:
The absurdity of a campaign to subsidize housing buyers, while the bottom has completely fallen out of the housing market seems to be lost on Ms. Smich and the members of United Power.
So there are various proposals out to literally bulldoze surplus housing throughout Cook, DuPage, Lake and Will Counties, and use Federal Money to do the bulldozing. Other proposals would force lower interest rates to lock in higher home prices. All of the proposals use Socialized tax dollars to pay for bad choices made by individuals.
Would it be too much to ask for the people looking for lower priced housing to investigate some of the houses being lined up for the bulldozer?
JBP