Monday, June 14, 2004
A Portland housing commission gets a bright idea: create a fund to subsidize affordable housing by putting a tax on home sales. That is sort of like trying to make a blanket bigger by cutting off one end and sewing it onto the other end. In case the idea makes sense to you, the problem is that the housing fund would serve only a tiny percentage of low-income people and all the rest would end up paying higher housing prices because of the tax.
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