As my profile indicates, my line of work is real estate appraisal and consulting. I'd like to think I know what I'm doing and that knowledge has allowed me to work on some big and interesting projects. Though I haven't sought it out, I've worked on several low income housing projects. The purpose of these projects is obviously noble - to provide good, safe, affordable housing to folks making well less than the median income. What I've discovered, sadly, is there is incredible profit in these projects. Investors set up shell "not for profit" companies to avoid paying real estate and other taxes, and then proceed to make large sums of money due to a variety of reasons with greed certainly being one of them.
One of the newest members of the Forbes 500 is billionaire real estate mogul John Manning . I don't know Mr. Manning, but I certainly raise an eyebrow at someone who "brokers" low income housing "deals". I just don't like that, but I'm sure it's not against the law.
So, does the "rich get richer and the poor get poorer" apply here? Reach your own conclusions.
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3 comments:
This is the American economy, Kent. "The rich get richer and the poor more poor" is a factual and daily occurence that we should teach kids in school because it has become THE AMERICAN WAY. And no one cares, because they will say that guy "worked hard to get what he has."
*sigh*
I think your observing shepherds, or would-be shepherds, of the community seeing dollar signs where they should be seeing sheep.
There is nothing wrong with making a living helping the poor, God knows I wish I did. However, exploiting them for wealth... is another story. A day is coming. Read Ezekiel 34.
Many blessings....
Kent,
Saw your comment on my blog. I responded there. But I was hoping to get your email. Cannot find it here. If you are interested in more private communication, contact me through mine on my profile.
Many blessings...
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