Joe Doakes from Como Park emails:<\/p>\n
\nLiberals object when I say we ought to run government like a business.\u00a0 Here\u2019s an example why we should (from the public land records, nothing confidential, all public information):<\/span><\/p>\n
\u00a0<\/span>House in the 1300 block of Fremont Avenue in St. Paul sold in 2007, peak of the market just before the collapse.\u00a0 First mortgage $164,000 federally insured loan; second mortgage $20,000 to Family Housing Fund; third mortgage $3000 to Minnesota Housing Finance Agency.\u00a0 Fourth mortgage in 2010 for $6,000 to St. Paul HRA.<\/span><\/p>\n
\u00a0<\/span>House was foreclosed in 2016, bank bid $97,000, sold it this Fall to new buyer for $90,000 using a realtor, for which the bank paid the commissions.<\/span><\/p>\n
\u00a0<\/span>All told, the public lost about $100,000 on that single deal.\u00a0<\/span><\/p>\n
\u00a0<\/span>Yeah, but it helped out a poor person, right?\u00a0She had a place to live for nearly 10 years.\u00a0<\/span><\/p>\n
\u00a0<\/span>Sort of.\u00a0 She made payments on four mortgages \u2013 that\u2019s enough to cover a ton of rent \u2013 and now she has a foreclosure on her credit report and possibly an eviction on her judgment history.\u00a0 Nobody will lend her any money now, and no landlord wants to rent to her, either. \u00a0So did pouring that public money down the drain really do her any good?<\/span><\/p>\n
\u00a0<\/span>I wonder if she got a participation trophy?\u00a0 Seems like the least they could do.<\/span><\/p>\n
\u00a0<\/span>Joe Doakes<\/span><\/p>\n<\/blockquote>\n
When you make something “worth” other than what people would pay for it on their own, there will be unintended consequences.<\/p>\n","protected":false},"excerpt":{"rendered":"
Joe Doakes from Como Park emails: Liberals object when I say we ought to run government like a business.\u00a0 Here\u2019s an example why we should (from the public land records, nothing confidential, all public information): \u00a0House in the 1300 block of Fremont Avenue in St. Paul sold in 2007, peak of the market just before […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74],"tags":[],"class_list":["post-61626","post","type-post","status-publish","format-standard","hentry","category-the-great-recession"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/61626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61626"}],"version-history":[{"count":1,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/61626\/revisions"}],"predecessor-version":[{"id":61627,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/61626\/revisions\/61627"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61626"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}