Low income housing: the ownership question

Article Abstract:

Home ownership by low-income people is not feasible. 'Deep' housing subsidies are needed to provide low income people with adequate housing. These deep subsidies preclude the possibility of home ownership by low income families. Giving full disposal rights to subsidized housing tenants would be unfair to other segments of society; ownership with restricted disposal rights would give low income families the burdens of home ownership but few of the benefits. The two options left for low income housing are rental units operated by either private landlords or public agencies. The factors to be considered in choosing the best strategy for managing low income housing are the costs of housing to the renter and society, the quality of the housing, the administration of facilities, and the treatment of tenants. The best solution is a mixture of public and private ownership in which the bulk of subsidized property is owned by a public agency.

Economic aspects, Housing, Home ownership

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Focus on Norfolk, Virginia

Article Abstract:

The Ghent Square and Scattered Site Infill Housing Program (Norfolk, VA), developed by the Norfolk Redevelopment and Housing Authority (NRHA) are singled out for recognition. Development of Ghent Square, a 65 acre, downtown Norfolk residential project began in 1969. The houses built in the final phase of the project sold for around $325,000. On completion, the assessed values in Ghent Square were $2,300,000, and now have reached $24,000,000. Most of the Scattered Site program units were appraised at between $56,600 and $77,000. All the units were built on slabs or crawl spaces, contained three bedrooms, and a minimum of one and one-half baths. Financing for eligible families was provided at five to seven percent.

Management, Virginia, Housing authorities

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