Word: homeownership
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...struggling to "hold the situation together with gum and baling wire," says Jack M. White Jr. of the city's Coalition for the Homeless. Even Washington's most ebullient convert to the cause -- Housing Secretary Jack Kemp -- is full of ideas but inevitably short of funds. His latest initiative, Homeownership and Opportunity for People Everywhere, would promote home ownership for low- income tenants and support local nonprofit groups. But its total funding is only $750 million next year. The 1987 McKinney Act allotted $596 million this year to states and cities for homeless programs. But even that amount pales next...
...Meyer contended that 1-2-3 was designed to increase homeownership, not eliminate rent control. He said people turned out to defeat the referendum primarily because of the way opponents framed the debate...
Under common mortgage-lending standards, people can pay three times their salary for a home price. $70,000 is three times a salary of $23,333, which is below the median income for rent-control tenants. So Proposition I really does provide a choice of affordable homeownership...
Second, you assert that a homeownership tax exemption would "discount the real estate tax value by about $50,000." But you do not explain that such a homeownership tax is not required by law for the next fiscal year, but would have to be voted by the next city council. And the supporters of Proposition 1-2-3 do not support such an exemption for tenants allowed to buy under Proposition 1. Just because we support a choice of homeownership does not mean we want the city to subsidize it, in any way. Instead, the plan...
...social and economic improvement, the Federal Government began to lose its bearings in the '60s and '70s in the midst of wars, both cold and hot, domestic upheavals and a worldwide economic revolution. As the nation's economic base began to contract, some basic elements of the American Dream -- homeownership, a college education -- began slowly to recede. The Government responded fitfully to these developments and eventually took on the form of a bloated, inefficient, helpless giant...