What actually seems to happen in these "affordable housing" scams is that some nuisance group like ACORN joins forces with some scheming developer to shake down banks and local pols. ACORN gets its grant, the developer gets his profit, the pols get their votes, and the ACORN people move their brothers, cousins, and friends into the "affordable housing." The unconnected poor — people who didn't join the all-day sit-in at the bank lobby because they were too busy working for a living, or just because they thought it was rude — are left where they were before. A little worse off, perhaps, as that much less housing is on the actual housing market.
-John Derbyshire
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