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6/12/2025, 3:42:00 PM
>Affordable Housing
Let me tell you guys a secret about "affordable housing". Assuming Nj is like Ca. It's a BULLSHIT tax scheme. This is how the scam goes.
>You get tax breaks for owning/operating/building low income housing projects
>Only 5% of the units need to be priced as low income to qualify for all the benefits. The rest of the units can be priced normally or even luxury.
>One of those low income units right away goes to the property manager.
>The rest of the low income units go up for "lottery". The friends and family of the owners/investors/property manager just happen to win most of the other slots. Leaving one or two low income units that actually go to lottery.
Let me tell you guys a secret about "affordable housing". Assuming Nj is like Ca. It's a BULLSHIT tax scheme. This is how the scam goes.
>You get tax breaks for owning/operating/building low income housing projects
>Only 5% of the units need to be priced as low income to qualify for all the benefits. The rest of the units can be priced normally or even luxury.
>One of those low income units right away goes to the property manager.
>The rest of the low income units go up for "lottery". The friends and family of the owners/investors/property manager just happen to win most of the other slots. Leaving one or two low income units that actually go to lottery.
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