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re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
Posted on 6/10/21 at 7:29 am to Prosecuted Collins
Posted on 6/10/21 at 7:29 am to Prosecuted Collins
quote:How would they do this without losing massive amounts of money? I can't imagine section 8 housing pays more than what a typical renter would pay for a 3/2 house
They are going to destroy all spec middle class neighborhoods and move section 8 in them thereby creating an even bigger strain on inventory. This is a Democrats wet dream happening before our eyes and it’s not happenstance.
1
Posted on 6/10/21 at 7:35 am to Epic Cajun
quote:
I can't imagine section 8 housing pays more than what a typical renter would pay for a 3/2 house
It pays less. There are caps to it but it's not the only way housing is subsidized.
The Low-Income Housing Tax Credit (LIHTC) program I mentioned is a bit different than section 8 and can allow a tiered rent system that is offset by tax credits so realistically the owner can move a low-income tenant in and still technically get market rates when all is factored in.
A lot of people are unaware this even exists because the companies that snap up the $8 billion annually to develop new housing don't want the competition.
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