Housing Lottery Offers Families The American Dream

In Silicon Valley, a creative housing lottery has given some families the opportunity to own a home, though some participants walk away with crushed hopes.

1 minute read

July 27, 2001, 12:00 PM PDT

By Christian Madera @http://www.twitter.com/cpmadera

"The lottery was the way to the dream. No fine print on a brochure told them that. Eric Darko and Larry Moore just believed it to be true. The two men spent this past year competing in an unusual lottery for the chance to purchase a home for less than $300,000 in a new East Palo Alto subdivision where the going price is $700,000. With more than 300 low- and moderate-income families competing for a mere 22 homes, both men knew the odds against them were great. But desperation pushed them to place their dreams on chance."

Thanks to Christian Peralta

FULL STORY: Housing lottery was roller coaster of emotions for some participants

Thursday, July 26, 2001 in San Jose Mercury News

Community / Economic Development California

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