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Do you think federal funds should be used NOW to build "low income housing?"?

There is already plenty of housing on the market, and much of it is for sale for a price considerably below the proposed sale price for the "low income housing." Also, the proposed sale price of the housing would be about one-third of the federal funds requested to build it. Wouldn't it make more economic sense to encourage the "low income" people to buy existing housing and give them help/incentives to do that?

Public Comments

1. there's houses so cheap where i am i can buy them all up and rent them out and be a rich bastard
2. I think obama should carry his practice of taking from the rich and giving to the poor carry over into the housing market and give poor people houses in the better part of town, like next to his house in Chicago
3. So you want to pay back all of Obozo's cronies who got rich in off of their low income housing scams? They don't need to get any richer, they made hundreds of millions off of Obozo's scams already.
4. Yes. FYI: Not everyone can afford a house, especially in this economy. Even non low income people are struggling. A house is a huge expense.
5. No... and let me tell you why. I grew up in a typical middle class neighborhood. Over the last 10 years that neighborhood made a deal with HUD to sell them 10 houses per year.. since then, the neighborhood has gone to crap.. property values have plumetted, test scores in the schools have dropped and you drive down streets that used to be pristine and see ripped recliners on the porch and 3 foot high grass...
6. I think the government should stay out of the housing market, just as I think the government should stay out of education and a lot of other things. They just can't seem to refrain from interfering.
7. A really nice tent costs less than $100.
8. No! I have sen federal "low income housing" (on the reservations Katrina), they always use substandard and often outlawed material, do poor work, and are awarded over inflated contracts to the friends of the administrator (Katrina)
9. This a very good question. It sounds like a good idea, but realistically it would be very hard. low income housing is for "low income" and by that i mean they are subsidized to the tune of only paying maybe 100.00 a month for rent. there is no way they could afford a modest house payment of 500.00 or 600.00 a month. as far as the housing market, i really think it is doing a correction. housing cost have gone crazy, a house that 15 years ago cost 85,000 now is valued at 200,000. it is great for local government, they get large property taxes, but realistically, it doesn't have that value. Maybe in some areas, the idea would work, but given the current economic issues, people are not able to find jobs with decent wages.
10. Wouldn't it make more economic sense to encourage the "low income" people to buy existing housing and give them help/incentives to do that? That's what we've been doing. Look where it's gotten us.