Sunday, May 15, 2011
Courtesy of Mark Edwards at Property Prof, a link to what looks like an important and troubling report, Million-Dollar Wasteland: HUD's Mismanagement of America's Affordable Housing. Here's Edwards' initial reaction:
Given that Congress is looking for areas to budget-cut, I suspect this series could be a game-changer for HUD. That's unfortunate, because the need for affordable housing in the United States is enormous. No doubt there is waste at HUD. But I suspect that the committed and well-intentioned people at HUD are trapped in a downward spiral: they aren't given enough resources to adequately oversee the projects they fund; the projects they fund are wasteful; so their resources are cut.