The Problem Is, Florida Home Prices Are Too High
The Sun Sentinel reports on affordable housing measures. "After the county's voluntary affordable housing program failed to lure many developers, Palm Beach County commissioners in March decided to make it mandatory. That means as much as 20 percent of new neighborhoods could be reserved for affordable housing, despite developers' opposition."
"Reduced price homes are planned next door to Alejandro Manzano, but he said they would not come fast enough to keep him in Palm Beach County. After failing to find a larger house he can afford, Manzano said he and his wife plan to move to Iowa to start a family. 'Prices are just unbelievable,' Manzano said. 'It is not affordable here. Too much.'"
The writer of a letter to the editor has a different solution. "Taxpayers to subsidize housing market speculators?"
"Say that again? Did I read that our leaders in Tallahassee, in the name of 'trying to ease the housing affordability crisis in Florida,' want to use taxpayer money to essentially subsidize and prop up the insane level of housing prices? Has there ever been a bigger crock in state political history?"
"Let me see, we're going to give taxpayer money to certain selected professions (police, firemen and teachers, because they only make around $60K), in order to afford a house 'at the current prices.'"
"Secondly, who are you kidding? The problem of overinflated housing prices was caused by greedy speculators and developers that have made millions over the last four years. So now we're going to prop up housing prices with taxpayer money, so that those who are responsible for these insane prices don't have to fear losing anything if prices begin to fall? Is it any wonder that a 'coalition of builders' is behind this bill?"
"The problem is that prices are too high, period. The current prices are unsustainable, and need to come down, a lot, a whole lot."
"The answer is to seek ways to bring the prices back down to reasonable and sustainable levels, not to prop them up with taxpayer subsidies. Yes, if prices fall, some people stand to lose some money, most of whom either deserve it for feeding this frenzy, or who will still see a profit but only a lesser amount, or who have already made a killing and are way overdue for a significant correction in their investments."