Cities, make up your mind — cheap housing, or expensive housing?
From a link at the foreclosures site, we see an interesting story on another town that thinks it owns the residences’ properties. I hear endless stories about towns in the Chicago area that wanted to “do something” about rising housing costs. My business partner lives in a lower class versus upper class community called Evanston, Illinois that very recently wanted to pass legislation to mandate cheap housing.
But now it seems that the housing bubble burst is leaving towns changing their minds. Instead of forcing housing developers to make cheapers, some towns are now forcing housing developers to make no houses. Both sides of the city debate show what government can do to the market when they want to.
Read this entire article at the housing bubble site.
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