Word: homeownership
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...short, 1-2-3 backers are not seeking to charitably introduce some tenants to the joys of homeownership, but, rather, to unload buildings which do not turn enough of a profit...
Advocates say it would increase the tax base and aid homeownership, but opponents have argued that it would reduce the amount of rent-controlled housing, allowing only those who can afford condominiums to remain in Cambridge...
...tenant buys their own apartment, the number of homeowners is going up by one, and I would argue that that's not bad, that's good," Meyer says. "Homeownership is a good thing...
Lynk said the principal cost of the homeownership plan would be the estimated $400 millionloss in tax revenue resulting from the increasedincentive for people to contribute to IndividualRetirement Accounts
What is the real intent or impact of Councilor Walsh's proposal? Who will it benefit? Who will pay the costs? When pushed, Walsh has pointed to the expanded opportunity for homeownership made possible by vacance decontrol of 70 percent of presently controlled units. Clearly, a prospective resident or an absentee owner with a downpayment and an income large enough to carry a huge mortgage can benefit. Clearly, a landlord or a condominium developer can benefit as rents double or triple to market rates or condos are sold to the wealthiest buyers. Clearly, the real estate brokers can benefit...