California planning on creating a massive $950 million dollar fund of taxpayer money to loan to developers for 0% interest
They say this will help solve their cost of housing crisis
We already know how this goes
– Their donors get the contacts
– These are a mixed income homes, so only a few will be low income
– After a certain amount of years they no longer have to be low income (this is a common scam for California)
– After this happens they’re sold at maximum profits
– Taxpayers completely fund all the development costs out of this fund, now loaned at 0% interest
– The developers build it all for free, pay no interest, wait a couple years, sell all the properties and pocket ALL the money
What an amazing scam