Why should the public sector be involved in the housing market?
A new affordable housing bond will be on the ballot for San Antonio residents in May. But why should the public sector be involved in the housing market?A good friend recently quipped about how she wished she had a good product or service idea to go along with her immense analytical and organizational skills. No doubt if she did, she’d have little trouble finding financial backing.
When investors in the private sector, who are voluntary, put their resources behind a new or improved gadget, they generally get a return if those who buy the gadget get a big or bigger bang for their buck. That’s the hope of proponents here — to “fill affordability gaps” in the local housing market.In reality, politically directed “investment” tends to exacerbate problems and/or create new ones.
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