by those who claim to "help" was shown in my local paper last night. More or less, the local "affordable housing committee" was telling the world how our city needs more affordable housing with some pictures of housing was become unaffordable for many in our community. Here are a few of them, along with my comments on why this is so appalling:
1. A teacher earning starting teacher's pay is currently unable to afford the average two bedroom apartment in our area. (exactly why does a teacher just out of college need a two bedroom apartment all to himself?)
2. A policeman earning starting pay is currently unable to afford an average home in our area. (see comments on new teacher)
3. A family earning 80% of the median income is unable to get a 100% (no down payment) mortgage on a house of average (mean) price. (two big mistakes here; not having a significant down payment, and buying a house of mean price, not around 80% of median price)
In short, those who are trying to "help" the poor with "affordable housing" have completely unrealistic expectations for what kind of housing is appropriate, and if they pass these expectations on to their clients, they're signing them up for a lifetime of debt slavery. This, in turn, may prevent many of them from moving on to higher paying jobs.
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