Note to Florida, this is what a poor person looks like!
Sun-Sentinel – February 22 2006:
People making moderate incomes — up to $69,720 a year — might soon join the ranks of the city’s poor in being eligible for housing welfare.
City commissioners agreed Tuesday to pursue a variety of housing measures that would expand subsidy programs to the middle class and would make Fort Lauderdale the first city in Broward County to enact affordability laws.
And I really love this part…
“Guys, this is a proud moment in the city of Fort Lauderdale’s history,” said Commissioner Carlton Moore. “It really is. It really is.”
Yeah, eliminating the free market and subsidizing the already wealthy real estate industry are such commendable things. I too am proud. Proud I don’t live in Florida.
Actually with the richie richies all over (no state income tax) 70K is sorta in an odd way, poverty. My former Lake Worth place, which was oddly classified as being in Palm Beach, I was extreme extreme poverty in Palm Beach, which would be anyone under 10 million annually.
But the problem really is that they make all these super apartments for an income level that just doesn’t live in the city, so they sit idle. But yeah, I agree eliminating the free market oft times backfires. Good intentions gone wrong. But I think you are looking at this the wrong way, as if Lauderdale, is similar to a many other cities, this is a first step back onto the privatization road. But boy do people kick and scream when rent finally reaches market-levels, used to getting it for half price, they think that IS the market.
And Florida is a dream, 5 star restaurants that go idle and under $20 a plate when the richies leave for the season, Goodwill’s with brand newly-minted Polo’s and Kenneth Cole’s for under $5. Poverty in the land of the ultra super rich is still heaven. Wellington Goodwills are the best in the world. I am a Sunshine State boy, no matter where I go, as they say once, the sand in your shoes….gonna hafta stop wearing sandals in Chicago tho. 😉
I am shocked that John finds fault with this program. I’m not sure there is any program that the left doesn’t support. Don’t you support minimum wage laws? We also have a higher minimum wage here in Florida. It’s the same thing only it’s income instead of housing?
I have a better idea.Broward Cnty. should make it a law that you can’t sell used real estate.The Japanese have proven there is no better way to subsidize their car industry.This is a bad idea that is even worse because it makes the middle class dependent on Gov.welfare.Would the last American leaving Florida please take down the flag.
These kinds of artificial inflations of the market are not going to help anyone. The prices will just go higher. (roughly the amount of the subsidy.) People will be right back where they started. But with a bgger mortgage and an even bigger housing bubble.
With runaway realestate prices, you have to make at least $80k to even afford a cheap house. In NJ, you cant find a house for under $200k and a average 3 bedroom is going for $300+.
Yep, the first thing a local government should do in order to address the issue of affordable housing is to put a freeze on new development. What a bunch of idiots.
Secondly, outside of market forces, nobody should have the right to tell me how much I can sell or rent MY property for. Rent controls can go to hell in my opinion. And when tax dollars are used to suppliment housing costs, you are, in effect, making the property owners pay a portion of their tenants’ rent.
Addressing the first comment,
“Actually with the richie richies all over (no state income tax) 70K is sorta in an odd way, poverty,”
While this may be true in downtown Manhattan or the Bay Area (where I live) you are surely NOT suffering on $70 in FLORIDA…. Try buying a 100 year old 3 bedroom house for $800k only making $70K, now that’s poverty!!!
The problem in SoFla is two sided, first the market is beyond over-inflated; it’s insane. Prices continue to rise because there is still, oddly, a demand for near-the-beach/near-the-storm-surge housing (and insurance rates higher than many mortgages), but also private ownership by residents is decreasing. Though obviously not the only factors, but it has gotten to a point that a family with a good income cannot afford to buy a new home, and yet the demand and prices continue to soar. The realistic point of a natural correction has passed for the region, and though I fear the long-term effects of government subsidies, it’s hard to say if it’s worse than doing nothing.
The problem of high demand for homes near the coast would be corrected if people had to pay the real market value for insuring those homes, instead of having federal flood insurance programs.
As others have noted the real key to the problem is that the federal government needs to stop bailing out coastal millionaires.
We give everyone 5 years, and then there is no more FEMA if you live in a known flood zone, there is no Red Cross when you live 30 feet from the water in a hurricane zone. There is no National Guard bailing you out when you build on a hillside in a fire common area.
I am sick of the government and charities bailing out idiots, if you want to live in such places, fine…but I could care less what happens to you, your health or your property. Sam Kinison once said, “We have deserts in America too, we just do not live there.” If we applied that same common sense concept to Florida, NO, California etc, then the US would be a much more financially secure nation. I have stopped giving money to charities that are not local to me, because God protects fools and drunkards, it is not my responsibility.
At this point, anyone moving back into NO, for example, has lost all consideration from me, I will be cheering for the next CAT5 hurricane.
I lived in Broward County for several years before my company moved me to Phoenix in 2002. The Real Estate market was crazy then, and I’m told it’s gotten worse.
What most people don’t realize is that Broward County is two-thirds swamp land! The remaining one-third has been pretty much built out. After that, you pretty much have to tear something down to build something new.
The essential problems in New Orleans go back well before existing regs. Figured I may as well throw this out here, now — since all these libertarian economic experts apparently don’t know you can’t get a mortgage in a flood plain without flood insurance. Been that way for a spell.
Just a lot of poor folks in the 4th Ward managed to own their own homes before today’s rules.
to # 16
What I’m hearing is that a large bunch of the 4th ward folks are claiming the goverment isn’t giving them enough to *pay off their mortages* and they had no flood insurance. Apparently some non-libertarian gave them mortages.
No matter if they had mortages or not, or flood insurance or not, the point is, they have no business building in those areas of the city that went under. If they do, it’s about time everyone said….your on your own.
It took 100 years of flooding along the Mississippi to finally get the goverment to move whole towns above the flood plain….after rebuilding some of those places 15 or more times. Same thing along the Atlantic Coast, if you want to live there, fine….but don’t call us when your under a tidal surge.
Consider this it’s now legal in Florida to buy wine from another state. California may have the fruits and nuts but we have some sour grapes.
http://southflorida.bizjournals.com/southflorida/stories/2006/02/20/daily45.html?jst=b_ln_hl
In responce to #1 Comment by Christopher Coulter
Palm Beach County is one of the counties in Florida and Lake worh is one city in it. Palm Beach has all forms of human lie not only the very rich.
Thier are plenty of trailor parks in Palm Beach County.
Florida has a State tax. better know as intangable tax.
A percentage of your assets are taxed. if you have little assets then your excempt from filing The state wanted to do away with the tax.
Life across America is tough for everyone. The Dollar is just blown out of proportion so people think they have lots money but in reality they have little buying power.
What cost $10,000 back in 1986 now cost $100,000.
Americans are forced to replace thier TVs by 2009 (signed into law by George Bush) with hig def Tv.
One big problem a Tv in back in 1986 was probably around $300
today the average high Def TV is probably around $3,000.
A nice windfall for the economy but another credit card burden on the work class stiff.
We really became a nation of the haves and have nots.
Consumers are almost forced into having expensive techology and paying for the service that go along with it.
High Speed internet access
Cable
Phone
Cell Phone
Electric
fuel and so forth.
‘
Every couple of years the techno junki has to purchase a new computer, cell phone and other high tech gadjets.
Most people are one paycheck from poverty.
>subsidizing the already wealthy
JD wants to have his wifi subsidized.
The point is thier not wealhty!!!!