Affordable Housing? You mean less than $57,000 for a house?
“Affordable housing” is coming to Baltimore. Why? Because politicians say so. As if making it more difficult and less profitable for developers was the best way to encourage the construction of new housing. As if Baltimore, a city experiencing a truly remarkable renaissance after being on its last legs not too long ago, should be telling developers: “hey, don’t build here!” If anything, they should be giving out tax breaks and high fives to the companies that are re-building the city.
I can understand this type of political gamesmanship in places like Howard County where there really isn’t much in the way of affordable housing for blue collar workers. But Baltimore City has TONS of affordable housing! Tons!!!
I went to an auction yesterday for a 3 bedroom house that sold for $57,000, and it had just been renovated. It was clean, safe, lead-free, and ready to move in. Does anyone think that a developer is going to build houses cheaper than THAT?
I know what you’re saying, “but what neighborhood was that house in?” And you’re right, it’s not the best (or the worst) neighborhood in the world. Do you know why it’s not so great? Because of the crime and the terrible schools.
And who’s fault is that? Please tell me, who is responsible for the crime–is it the developers, or is it the politicians?
But what low-to-mod income family has the knowledge to navigate the auction system, or the cash for the required deposit?
Danielle-
Agreed that auctions are not the best way to buy your first home, especially if you don’t have any financial cushion. That being said, I was just giving one example. There are dozens of affordable houses in that area and many other areas in the city.
As for the down payment, that’s a problem not solved by forcing developers to build something they don’t want to build. Even if they do construct ‘affordable’ units next to their high-end luxury condos, poor people will not have the down payment necessary.
There are undoubtedly many factors, both social and individual, that prevent the poor from becoming homeowners. My point is that in Baltimore City, a lack of affordable housing is definitely not the problem.
My take is that this is an inexpensive way for politicians to give the appearance that they care and that they’re doing something to make the city better. In the long-run, scaring developers away from the city will be detrimental to everyone who participates in the Baltimore economy by raising the cost of housing, decreasing the tax base, and limiting job growth.