Here’s another case where a bit of math and common sense makes it easy to understand government.
The Springfield city council recently approved a project to build a 44 unit housing complex for $7 million. If you’re not familiar with Springfield politics, it was pretty much pre-ordained that it would be given the go-ahead because neighborhood residents objected to it and the Planning and Zoning Commission recommended against it.
Of course, this isn’t a housing complex that some entrepreneur had decided there was a market for and wanted to build with their own financing. This project will be government funded as they’re being built as permanent housing for people “at risk of being homeless.”
That funding works out to $159,090 per unit, and by unit they mean high-density single room efficiencies. In Springfield, the median home price is around $105,000 — and those generally have two or three bedrooms and a yard. Or, if we’d like to spare the homeless from lawn work, for about that same $159,000 there was a 3-bedroom condo listed for sale last week near Panther Creek golf course.
To recap, our insolvent government borrows money to give some company 50% above the median value of entire houses in a market in order to build one room units which they call, apparently without a hint of irony, “affordable housing.” To which one can only ask – for whom??
So it should be easy to understand that these boondoggles have almost nothing to do with helping out the poor and downtrodden members of our society and nearly everything to do with the people who will be getting in on that $7 million. It won’t be the homeless, and it won’t be you or me.
Fortunately, the situation is hopeless, but it’s not serious.