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Obama Calls for More (Slum) Housing Projects

Since the projects work so well for the poor under LBJ, Obama wants to bring them to all over America. There is no other way to read this Reuters report: The Obama administration is exploring ways to support rental housing as the troubled U.S. real estate sector has kept potential buyers on the sidelines, a top U.S. Treasury official said on Friday. "We support a housing finance market that provides liquidity and capital to support affordable rental options and help alleviate the burdens that many low-income households face," Treasury Under Secretary Jeffrey Goldstein told a housing conference. "We are also exploring how private channels can finance affordable multi-family housing, perhaps with limited, targeted governmental support," he said. Goldstein said the administration's range of options to expand support for lending for multifamily rental properties include reforms such as risk-sharing with private institutions. He said private credit markets have generally underserved the multifamily segment that caters to low-income households. Instead, they prefer to invest in high-end developments, Goldstein said A broke government funneling money to developers willing to build housing for people who can't pay. This should work well.

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