I don’t know wehre people are saying that tax payers are subsidizing this housing. Developeres are required to set aside a % of units or pay in lieu fees that are used to pay for housing.
Now one could argue that the added costs to the developers are then passed on to the buyer of these market rate units. THat is very arguable.
The design of affordable housing is just that. Affordable. It is not typically low income. What this type of housing does is reduces costs to pay for police and fireman, teachers and nurses and other middle income families.
Now as an MBA student I would normally argue that market forces would be far better as it would distribute housing costs where they need to go. But unfortunately our local government is corrupt and run by developers therefore the market is inefficient.
People need to get a better handle on the cost of these programs. They do not come out of your pocket in the form of forgiveable loans. There are equity share programs, there are tax credits and there are units that will be permanently designated as affordable.
Any sort of forgiveness comes after a LOoooooooooooooong time by which point the majority of people will have moved on long before this event ever happened.
