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What do you think is more important, affordable housing, or higher appreciation rates?

There are good reasons for either, though in my opinion, affordable housing is more important since it means fewer foreclosures, homeless people etc.

Public Comments

1. There is an always will be a huge demand for affordable housing. The waiting list in some areas is just bonkers. There is such a need for this, so people do have a roof over their head, and in housing that suits their needs. I am in the affordable housing industry that develops housing for special needs populations. You would be surprised at the demand for housing for deaf seniors, and people experiencing mental illness. These groups have their own special needs unique to this population and there is so few places out there to meet this need.
2. Affordable housing is great, but costs to build will hardly allow for it to be built and of course the developer's and builder's profit margins are much less; and, it doesn't mean less foreclosure. FHA's affordable housing promotions that permitted gifts of downpayment actually had a much much higher foreclosure rate as people had nothing invested, but the move in expense. Home ownership is not for everyone, just as being a doctor isn't, so good appreciation rates cause more activity and create a sound economy, as until construction of home begin again the economy can't recover and in order for it to recover real estate values must be increased to their original fair value of three years ago. Appreciation is a mandatory for real estate to thrive. Apts. are the way to supply affordable shelter.
3. let the market decide. In some areas, such as LA, Manhattan higher appreciation because no more building can be done and people want to live there. In other areas, say Detroit, affordability. You can buy city blocks for a thousand bucks. Those are extremes, but the market will decide. I live in Benton Harbor Michigan, an economically depressed area, because the cost of living is so low. I have a 5BR house with over 2,000 sq. ft for $47,000 and I have no problems living here. I just bought a home I am fixing up to rent out for $6K at the tax auction.
4. Affordable housing is more important because it allows more people to invest in their own home, rather than a system where only the rich can own homes and landlords continue subjecting more people to increasing lease payments. You can't blame FHA mortgage defaults on gifts for downpayments. You have to realize FHA insured mortgagors are LOW INCOME people. These are the people who worked in mills and factories and stores that have filed bankruptcy, moved overseas and closed down, leaving their employees jobless. No matter how you got your downpayment you can't pay a mortgage payment, or rent for that matter, without a job.
5. Affordable...because people will always need starter homes, and most families can get into them without hocking their futures. "Appreciation" is slippery. The new hot address can cool down overnight, and there won't be much you can do to stop it. We are going to have some outrageous numbers of "house poor" over the next few years...and the affordable homes are also less expensive to maintain.