One wonders if we can establish which came first…the easy credit or the real estate value bubble.
And let’s be honest, the prime motivation in any home purchase is how far one can afford to get from the ghetto/projects/slums/trailer parks.
Which leads me to recall the Housing voucher program of the early and mid-90′s.
I recall when the Dep’t of Slumlords decided to implode the high-rise “LBJ Vertical Memorial Ghettoes” in downtown Baltimore onthe I-83 corridor.
The Dep’t of Slumlords came in and gave every resident of those projects a housing voucher equal to what the working class could afford to spend on housing.
Result?
Many of the hoi-polloi moved out to Columbia, Maryland, (a late ’60′s-early ’70′s “planned community”)…and now “Old Town” Columbia is a less-than-desirable zip code in which to reside.
It bears thinking about…
Does anyone else have 4-1-1 about the effects of similar impacts of the Housing Voucher Programsin their own local metropolitan areas?
