The Denver Post reports that home buyers who bought into the affordable housing scam are having trouble selling “their” homes. The rules require them to sell to another party that meets the low-income qualifications at a controlled low price. In other words, the affordable housing is a scam because the regulations strip the home buyer of the most important aspects of home ownership. It is really more like a home rental. Our report on the affordable housing scam “Un-Affordable Housing: Cities keep low- and middle-income families from home ownership” notes this problem, and many more, for these programs in NC.
The affordable housing scam also impacts on home builders as we explain in our report “A Planners’ Glossary.” Home builders are forced to build “affordable housing” and then they are forced to sell those homes at a below market price or they will not receive building permits to build any housing. We call it like we see it. Affordable housing is “an extortion scheme to force home builders to sell their houses at below market prices.”
