Posted on 02/26/2013 6:52:56 AM PST by ExxonPatrolUs
Section 8 is a slum lord’s dream come true. It artificially jacks up the market price for low end rentals, and pushes mid range rents up as well.
This is news? To whom? This has been true for decades. Does ABC have a story on how welfare destroys the will to work for a living?
Yep, not news really; this program has destroyed suburban house values throughout the major metro area I live in. Forced us to sell our home, and of course, at a loss. The only buyers are investors looking to turn previously owned houses into Section 8. No one with a brain is “buying” a house in this county or any of the surrounding counties. Its a sure way to lose money.
My elderly Dad is eligible for Section 8 housing. I REFUSE to let him live there. Total dumps in our area filled with slackers and druggies.
‘The People’s Republik of Madistan’ is the Poster Child for: “If you build it, they will come!”
WARNING!!!!!
CONSPIRACY ALERT!!!
the reason for section 8 and low income housing is quite simple really...
when renters outnumber the homeowners, every property tax increase on the ballot will pass effortlessly...
if you do not own property, you should not be allowed to vote on property tax issues...
No one with a brain is “buying” a house in this county or any of the surrounding counties. Its a sure way to lose money.
Unless you are a slumlord looking to rent to section 8. Donald Trump started out this way.
Across the street from a grade school, the government inspectors of public housing swab the walls for Meth smoke residue, and post florescent signs on the doors of the childrens families who have been evicted.
I can’t even vote on property tax increases since I don’t live in the City where I own the property. However I am able to pass on any property tax increase immediately onto the renters.
If you see a new apartment complex going up, no matter how high end, it will probably have section 8 in it. The reason is low interest HUD backed financing for the construction...available only if a certain percentage of the units will be section 8.
My experience with Section 8 renters is the opposite of what is described in this article. They were the worst of tenants, had little skin in the game, didn’t maintain anything, were destructive, and the government bureaucracy made it much more time consuming and difficult to get them out. Additionally, it becomes more and more difficult to find non Section 8 renters in the same areas.
Income from selling drugs does not count.
I believe lots of foreclosures have been turned into rentals. Many of these properties are owned by banks that got TARP money. The “toxic” loans were paid off yet the banks kept the property. Then the government said “If you’ll rent them out the taxpayers will subsidize you.”
Didn’t you know that if there’s a tax increase you’re supposed to suck it up? Seriously, many college educated liberals, and even liberals who are actually somewhat intelligent, cannot understand how an increase in the landlord’s cost is passed on in higher rent. The REALLY don’t understand how it works. AND THEY VOTE! NOW THAT’S SCARY!
Here in Louisville, I have several friends who are making BIG MONEY buying SUPER CHEAP homes in the West End, and renting them to Section 8 tenants..
One guy bought a 75 yr old, 6 bedroom home for $30k. He’s renting it to an older woman for $1500 a month. He gets paid, BY THE GOVERNMENT, on time every month. He couldn’t care less if they trash the place.
But, they don’t... cause, the Lady is also renting out her rooms, for cash...
She’s making big money, My friend is making big money.... EVERYBODY is WINNING! Except.. me. :-(
“section 8” crap drives up rental prices, so government pays the rent for more and more people which drives up rental prices, so government .....
Besides the obvious wealth transfer features Section 8 ensures each neighborhood will have their quota of blacks. Our neighborhood had a home buyer default, the house was turned into section 8, and voila’ we had a Crips and/or Blood as our new neighbor. We literally had the police parked outside their Section 8 house. Eventually by some machination unknown to the rest of us they were moved out.
Yea, well I meant a buying a house to live in.
And you know what’s really just f...ing amazing is the unlimited, bottomless pool of people lined up for Section 8. One of the ways they destroy neighborhoods, (through the guise of “integration”) is to build huge Section 8 apt. complexes in exurban farm towns 60 to 80 miles from the central business district of any major urban area. Then they bus in their Section 8’ers, (we call them HUDdites) and next they’re seen wandering the roads and streets in their hoodies or driving their pimp mobiles to the local grocery store. Jobs are, of course out of the question and in some of these areas, they’ve yet to install any Metro Bus Lines so these people are, for all practical purposes, stranded. It’s absolutely amazing. Of course, the multi-family housing developers are loving it.
My fear is that eventually, the government will force landlords to accept Section 8 tenants, or face discrimination lawsuits.
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