Quote:
Originally Posted by the urban politician
Well, looks like Rahm is going in full force to win back the black and Hispanic vote.
Too bad real estate development in Chicago is going to suffer. |
A couple things:
Since the black and hispanic vote probably represent at least around 55-60% or so of the overall Chicago vote, I'd say he should probably be concerned about this component of the electorate!
Also, it's not as if this won't be popular too with some not at all insignificant parts of the white electorate. So, why don't we go ahead and tack on another 10-15 pct pts there. Perhaps not at all a bad political move.
As I've mentioned it's really not a good policy move however.
It's a modest - perhaps very modest - net negative impact overall on development. The boom of course will carry on irrespective....
But it's a pretty darn poor funding mechanism for affordable housing initiatives.....you could design much more effective schemes that deliver much more bang for the buck