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Rise of the Bandos!*


               
2008 Feb 19, 3:27am   30,144 views  201 comments

by HARM   follow (0)  

*pun courtesy of CalculatedRisk

Intractable social problem: meet opportunity.
Some homeless turn to foreclosed homes

There have been several posts from yours truly contemplating this very idea, and now it looks like the word is out on the street and being put into practise. Could there be a more perfect, complementary "market-based" solution to the twin problems of: a) homelessness, and b) housing bubble oversupply?

Personally, I wouldn't object to having some of my tax dollars diverted to formalizing the "Bandos" into a legitimate form of public housing (with appropriate oversight by law enforcement and building inspectors, of course). It sure beats maintaining the status quo on both fronts: skid row/downtown areas overrun with stinky homeless people urinating, shooting up, and prostituting themselves in public; and depopulated suburban Specuvestor cities replete with mosquito-infested swimming pools and McMansions being turned into gang 'safe houses' and crack/meth factories.

HARM

#housing

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1   Peter P   @   2008 Feb 19, 3:42am  

Homelessness is not a housing issue. Nor is it a social issue. It is a mental health problem.

I am against public housing of any form because it causes market distortions.

As a society, we should encourage more housing units to be built. We should view zoning and NIMBYism as violation of property rights.

Welfare is not the solution.

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