Much of the routine trade and investment between China and America is entirely appropriate and in America’s interest. But inserting the Chinese Communist Party into America’s pay-to-play system and its economic development strategy isn’t just crossing a line. It’s a leap into an abyss of stupidity.
What is the public good associated with funding down payments for people who have been unable to save a down payment and may well need to sell at the first major repair because they have no savings? How does this churning help anyone? Why not redirect the funds to reducing real estate taxes which could arguably benefit renters, either through reduced rent increases or property improvements? First we pay to build unaffordable low-income housing (e.g. $700K per unit or more) and now we pay to let low-income renters buy their units? This is incoherent, expensive, and not solving any piece… Read more »
By “success” they mean “shake-down”. I’ve been told in DC that the right of first refusal is a property right. Tenants have been assigning this right to investors for upfront cash payment. Investors end up buying these buildings instead tenants which sort of goes totally against the spirit of the law but it is what it is.