A family in public housing makes $498,000 a year. And HUD wants tenants like this to stay
http://www.washingtonpost.com/blogs/federal-eye/wp/2015/08/17/a-family-in-public-housing-makes-nearly-498000-a-year-and-hud-wants-tenants-like-this-to-stay/A family of four in New York City makes $497,911 a year but pays $1,574 a month to live in public housing in a three-bedroom apartment subsidized by taxpayers.
In Los Angeles, a family of five that’s lived in public housing since 1974 made $204,784 last year but paid $1,091 for a four-bedroom apartment. And a tenant with assets worth $1.6 million — including stocks, real estate and retirement accounts — last year paid $300 for a one-bedroom apartment in public housing in Oxford, Neb.
In a new report, the watchdog for the Department of Housing and Urban Development describes these and more than 25,000 other “over income†families earning more than the maximum income for government-subsidized housing as an “egregious†abuse of the system. While the family in New York with an annual income of almost $500,000 raked in $790,500 in rental income on its real estate holdings in recent years, more than 300,000 families that really qualify for public housing lingered on waiting lists, auditors found.
I do not get the point of public housing. They do not have any plans to kick them out, so it gives this perception that only poor people live in government housing.
