Federal bill may increase Oregon housing supply
Oregon home buyers and renters will have an expanded supply of housing as a result of federal legislation signed by President Bush last week.
It's not new home construction that increases the supply of housing, it's the federal government.
Measure 37 new houses = bad
Government new houses = good
Although attention has focused on the bill's much-debated mortgage relief for 400,000 U.S. homeowners and potential financial rescue of the nation's two largest home-mortgage insurers, Oregon's top housing official said the bill also will enable the state and private investors to pay for additional housing.
"state and private investors to pay" = "taxpayers to pay"
The private investors simply take tax dollars to finance their housing projects. This worked well with the bun cake shop in Portland.
The state credit is used to leverage bank loans for affordable housing at lower interest rates, typically 4 percentage points below market.
I love when the state is able to "leverage" things.
He said though the federal help is welcome, the state still is providing housing to only a fraction of eligible households.
What a way to start my Monday. I swear that I am reading from a state owned newspaper. Every comment in this article was from a government bureaucrat and the focus was on how this bill "benefits the state."
I'm almost positive that myself, as a homeowner who pays my mortgage on time, will not find any benefit here.