Wednesday, September 28, 2011

In Ireland, foreclosures as affordable housing

Harold Berk, a smart regular on the ABA affordable housing listserv, spotted this writeup on a spate of sensible behavior in Ireland. It seems a national receiver handling foreclosed blocks of new apartments is selling some to a "social housing" organization, the Cluid Housing Association. More than half the apartments are to be leased at genuinely low rates -- Cluid "rents dwellings for as little as 10 euros ($14) a week." More sales of the type are expected to follow.

Mr. Berk very reasonably wants to know if we can't do something like that over here.

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