How Can Our Politics Affect Housing Projects

Politics play a huge role in housing projects because it is the government that decides where funding will go and whether housing projects are initiated. For the most part, housing projects are created to better the community and help people live better lives, but as with everything in politics, there is always controversy.

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Here are some housing projects that are brought about because of politics:

  •  Low-Income Housing Projects: Throughout the history of the United States there have been several housing projects directed toward low-income families. They usually consist of small communities or apartment buildings that are subsidized by the government, meaning people can live there for less money than a place of comparable size elsewhere. These housing projects are directed toward people in all stages of life: those who are young and starting new families, or those who are retired and no longer make enough money to support themselves because of insufficient retirement planning. Low-income housing projects are controversial in politics because placing many low-income families in the same area can lead to higher crime rates because of demographics.

FHA Lending: These are mortgage loans endorsed by the government that don’t require a large down payment, which enables more people to get into a home.

  • FHA loans have been a bit controversial in politics over the years because saving a down payment shows the lender that a person is financially ready for homeownership and will be able to make payments. That’s why people who get FHA loans are usually required to pay mortgage insurance premiums — to protect the lender if the homeowner defaults. It is sometimes controversial in politics because the money used for FHA loans could be spent on other projects that help a greater amount of people.
  • Mortgage Refinancing: Sometimes people have a life-changing event or their income has not been rising sufficiently to combat the cost of living. This is when refinancing a mortgage is useful. It enables homeowners to have lower monthly payments, by extending the term of their loan. Sometimes politicians will rally the government to offer low-interest refinancing to help people afford their homes.
  • Housing Beautification Projects: Over time, communities become really run down because they are old and the building structures become compromised. Sometimes the government will put money into these communities to rebuild and make them a better place to live, through projects such as new housing development and community trash pickups or yard sales.

Since politicians are the ones responsible for deciding where the government money goes, through campaigns that citizens vote on, politics have a big effect on housing projects. So, whether you are looking at apartments for rent in Chicago or communities inNew York in which to live, keep in mind that you may qualify for housing projects. There are many available today, and new ones are constantly being created.


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By Rossel

Graduate of B.S. Medical Technology but landed in the field of business and writing. She has gone from being a white-collared job employee to an entrepreneur because of the world's changes and demanding needs. She is currently maintaining 4 blogs with different niches such as business and finance, parenting and family, health and beauty, and home improvement.

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