this post was submitted on 23 Aug 2024
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Housing Bubble 2: Return of the Ugly
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If private capital won't develop homes, the government should fund the housing project of residents that want to live there.
Which government? The municipality, province/state, or federal? There's already a significant lack of housing for the people who need it most, with the aforementioned three entities often fighting over who should pay for it. Along with that, there's strong evidence that providing stable housing to homeless is quite effective in reducing public service costs elsewhere.
While I would love to see everyone have a stable home available to them, the lack of progress for even those needing it most, despite clear evidence of the return on investment of public funds, I am not hopeful that any government will be funding significant development projects that can have an impact on lack of housing supply anytime soon.
Which ever government has financing. It wouldn't be free. The gov would collect interest and make money just like any private developer. Considering this is basically how Freddie Mac already operates with Single Family Homes it's not a stretch to extend this gov financing to big multifamily projects owned by tenants.
Ah, I see what you mean. Not a bad idea if it can be done with a good design team and good construction oversight. I would fear government housing projects being built as cheaply as possible though, when well designed and constructed buildings bring far greater return.