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OMG… If you want to destroy housing values sell houses for less than they are worth. Comparables go down, and all of the neighbors suffer.
20 years ago KPADC realized this, and sold houses at market rate with subsidies paid to the home owners to boost the down payment.
I really hope this was just mis-stated and that INHP is not working on killing home values for the rest of the neighborhood.
I hope this slows down increasing values. My neighbors are getting forced out with rapidly increasing rents and taxes. More and more people who don’t want to move are forced to. They can’t find anything in the neighborhood they could once aford. These folks held this neighborhood together when people with money were not interested. There where enough empty lots and abandoned homes that there should have been enough room for people of means to move in and create an economically diverse neighborhood. Sadly it doesn’t work that way.
I love the work of INHP but let’s be honest that selling homes for 144,000 is not affordable for a large amount of Hoosiers in the inner City. Not in my neighborhood least.