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Affordable Housing Myths

Posted by: Chris Steins
Thanks to: Laura Smith
6 May 2005 - 9:00am

Julie Bornstein offers insight into the myths and truths about affordable housing.

"Q: In a number of suburban communities in the Milwaukee Metropolitan area, residents have opposed any plans to bring affordable or subsidized housing to their respective areas. Many of them cite fears that their property values will decrease.

A: Most of the time, affordable housing has no impact, but sometimes it actually improves property values. If a neighborhood has had no development, bringing in a new development often helps. But it is absolutely not true that property values decline. It is an urban myth."

Full Story: Myths and truths about affordable housing
Source: Milwaukee Journal Sentinel, May 3, 2005
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Even if the report overestimates the costs by a factor of two and underestimates the tax-benefit by a similar amount, the conclusion would be pretty much the same: destination resorts cost local government and taxpayers money.
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