Before we get into a whole thing about it, let me just ask a question. If a formerly down-at-the-heels inner city neighborhood is becoming more middle class, which way should house prices be going, up or down.
Well, wait. Two questions. If the city wanted to promote middle class housing in a neighborhood, would it do it by building houses cheaper than the ones already there?
Sorry, I thought of a third one. If a house is truly “affordable” to middle class buyers, why would the construction of it have to be subsidized with city bond money, and why would the city have to provide financing for the buyers? If all that subsidy is going into it to keep the price down, doesn’t that mean it is by its very nature low-income housing?
I ask for a reason. City Hall is trying to screw central Oak Cliff right now the same way it tried to screw Old East Dallas 30 years ago, by jamming subsidized housing into it so the subsidized housing won’t go north. The success of Old East Dallas today came straight out of that battle. Read More >