The Savings and Loan crisis in the 1980's was not caused by making residential mortgages in the inner cities.
David Wilson Loring Park On 13 Dec 2001, Gregory Luce wrote: > Hey, a question for Cara and/or others: > > It seems the biggest obstacle to establishing a CLT is the same that dogs any other >housing proposal: capital. Where do you get the capital to purchase land, rehab a >property, build a new one, etc.? I suspect the same as anywhere else but would love >to hear about how PRG/Seward and others involved in the Minneapolis effort are >approaching this. > > Also, commenting on myself: > > Gregory Luce wrote: > > I'll wager my most treasured knick knack that most families, in an incredibly tight >market or in a distressed neighborhood (or both), would take affordability and >ownership anyday over wealth-building through home equity, if that was the ultimate >choice. > ------ > > To whom shall I send my 1977 autograph of Muhammad Ali, signed on the back of my >dad's personal check? > > I think I should have said that most low-income families would take home-ownership >sooner (through a CLT) than a fading hope for home-ownership later when the market or >their circumstances may finally allow them to purchase. Push comes to shove, I bet >most folks would prefer outright traditional home-ownership with the potential to >build more significant equity that way. > > Gregory Luce > North Phillips (work) > > North Phillips Press is a publication of Project 504, > a housing related neighborhood organization based in > the Phillips neighborhood. > _______________________________________ > Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy > Post messages to: [EMAIL PROTECTED] > Subscribe, Unsubscribe, Digest option, and more: > http://e-democracy.org/mpls > _______________________________________ Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy Post messages to: [EMAIL PROTECTED] Subscribe, Unsubscribe, Digest option, and more: http://e-democracy.org/mpls
