The regulations would use grant money as an incentive for communities to build affordable housing in more affluent areas while also taking steps to upgrade poorer areas with better schools, parks, libraries, grocery stores and transportation routes as part of a gentrification of those communities.Gentrification? Well a country sure can't have too much gentrification. Perhaps we could have a patron saint of gentrification.
“HUD is working with communities across the country to fulfill the promise of equal opportunity for all,” a HUD spokeswoman said. “The proposed policy seeks to break down barriers to access to opportunity in communities supported by HUD funds.”
When is enough, enough? In the video below Rep. Jeb Hensarling notes that HUD has spent $1.6 trillion or $13,000 for every American household since its creation in 1965. To its credit HUD has managed to double the cost of housing for everyone and raise rents one third measured in constant dollars over that same time span but the poverty has remained the same. Modest result do not beget modest ambitions. HUD is asking for a 9% budget increase. From the tone of Mr. Hensarling remarks I would make that a long shot.