On Monday, August 26, 2002, at 05:23 PM, [EMAIL PROTECTED] wrote:
> Land is cheaper in poor neighborhoods, so more lots for housing for the > poor can be bought with the same amount of money. I think some people are missing the fact that this developer is not a charity but a business. Everyone likes to talk about affordable housing but who can afford to subsidize it? I've been researching being a landlord, and it isn't easy to make a profit on single-family housing or duplexes....even fourplexes have to be well managed to be profitable. The comments about the new housing turning into a slum property is pure speculation. If the renters decided to take care of the property then the burden of paying for costly maintenance wouldn't weigh so heavily on the property owner (remember, these are NEW homes). Turning a profit on "affordable" housing is quite difficult. This developer is taking an interesting angle by having a lot of bedrooms per unit and finding families (probably immigrants) that are large enough to support the rent. I'd call that an innovative solution to the problem of affordable housing for these families. -Michael Lomker North Loop _______________________________________ 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
