[joinedafterattack]

WASHINGTON - The Obama administration, in a major shift on housing policy, is abandoning George W. Bush’s vision of creating an “ownership society’’ and instead plans to pump $4.25 billion of economic stimulus money into creating tens of thousands of federally subsidized rental units in American cities.

The idea is to pay for the construction of low-rise rental apartment buildings and town houses, as well as the purchase of foreclosed homes that can be refurbished and rented to low- and moderate-income families at affordable rates.

[Steely Tom]

Earlier.

[org.whodat]

http://www.freerepublic.com/focus/f-news/2317244/posts

[A_Former_Democrat]

GTH out of the housing market, period. No more. It’s caused enough problems as it is.

I pay for my housing, let them.

[444Flyer]

Will this be part of his Foreclosures for Squatters Plan?

[jimbo123]

[sneakers]

Oh goody. More ‘projects’.

[SandRat]

Creating Ghetto Serf Slums.

[STONEWALLS]

...not everybody should have a home because they’re not willing to keep it up....they run down the neighborhood.

[SteamShovel]

as well as the purchase of foreclosed homes that can be refurbished and rented to low- and moderate-income families at affordable rates.

I knew THIS was coming.....

.....there goes every neighborhood, everywhere.

When people are "renting" government owned housing, they do not take care of it. The places are trashed within a year or two.

[angkor]

$4.25 billion of economic stimulus money

This is from the $800 billion "economic stimulus" slush fund granted to Zer0 by the U.S. Congress.

No further votes or bills required. An open checkbook for Zer0.

[ArchAngel1983]

Wahoo, return of The Projects; D-Y-N-O-M-I-T-E!!

[444Flyer]

Freddie Mae/Mac finds you are underwater on their loan, they call it in...you can’t pay and have to foreclose....Obama turns it into “Government Housing” and low-rental units.

Somebody please tell me this hypothetical isn’t possible.

[Lancey Howard]

An obvious move since the bulk of the Democrat “base” considers the government to be “the landlort” anyway.

[Munz]

everyone according to their needs ...???

[ilgipper]

Not bad all around except this economy is not generating a need for more building. We have an excess of rentals available right now in apt communities and house for rent. Flooding the market is going to lower occupancy rates in the existing supply. Not good for anyone.

[SIDENET]

“By damn, we’ll get these fools more dependent upon us somehow!”

[P-Marlowe]

Zer0 wants to turn all of America into Chicago’s Cabrini Greens.

[GOPJ]

At its peak, Cabrini-Green was home to 15,000 people,[1] living in mid- and high-rise apartment buildings. Over the years, gang violence and neglect created terrible conditions for the residents, and the name "Cabrini-Green" became synonymous with the problems associated with public housing in the United States. - - wekipedia...

Cabrini green was housing the Chicago Way - liberals in Chicago thought it was "THE ANSWER" - and as most liberal answers - it became a horror. The one Obama wants to bring the rest of us to... "Public Housing" a la Cabrini Green... And then - with all 'bama's banker friends owning the "nice" homes - we'll have our Communist Party elite hosing too. This is endlessly charming.

[Centurion2000]

There was another leader that went this route ...

He [Khrushchev] declared that all 250 million Soviet people should have their own separate (as opposed to communal) apartments. To achieve this goal in a short period of time, houses were built very quickly with cheap materials; zero attention, it seems, was directed to quality and aesthetics. These ugly five-story buildings - "Khrushchovkas", meaning "Khrushchev's home" in Soviet slang - are still standing in Baku today. Sometimes people call these houses "Khrushoba", a combination of the Russian "trushoba" (poor, dirty hole) and the surname Khrushchev.

[Iron Munro]

http://www.conservativeimage.com