Read the full story here Web Link posted Thursday, February 11, 2010, 4:28 PM
Town Square
City helps teacher with condo conundrum
Original post made on Feb 12, 2010
Read the full story here Web Link posted Thursday, February 11, 2010, 4:28 PM
Comments (3)
Posted by JO
a resident of Monta Loma
on Feb 12, 2010 at 3:48 pm
a resident of Monta Loma
on Feb 12, 2010 at 3:48 pm
Depreciation: just one more reason why the BMR system is terribly flawed. I'm a strong advocate for affordable housing, but BMRs are not the solution. Is the City prepared to bail out every BMR owner if they decide to sell in a down market? If so, everyone should put their BMR on the market right now, sell it at break-even, then go buy a non-BMR in this down market for at a 20-30% discount. Anyone else think this is a dangerous precedent?
The BMR program restricts the housing supply, which artificially increases the price of housing. When are we going to get real affordable housing assistance, i.e. increased housing supply plus down-payment assistance/equity sharing programs?
Posted by USA
a resident of Old Mountain View
on Feb 13, 2010 at 11:49 pm
USA is a registered user.
a resident of Old Mountain View
on Feb 13, 2010 at 11:49 pm
USA is a registered user.
"It was a situation few people expected"
Wow. So many possible comments...
Posted by Political Insider
a resident of Sylvan Park
on Feb 15, 2010 at 11:22 pm
a resident of Sylvan Park
on Feb 15, 2010 at 11:22 pm
Not too surprised here. The seller has an easy out with the city so she can buy a market rate house, get a better loan, and a tax credit. Very nice benefits provided by the city for a single teacher.
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