Levy sees a regional affordable-housing crisis

Urging state legislative approval for a program that would provide $25 million for affordable housing on Long Island , Suffolk County Executive Steve Levy told members of the Peconic Community Council yesterday ...

[JoAnn-Mastic]

I don't think affordable housing is the answer to the mass exodis on Long Island. It involves the lack of jobs due to companies leaving long island to escape taxes here, it involves the taxes paid on the so called affordable house, and everybody knows that yes, someone will get a break on the house and a few years later, sell it to a real estate broker for premium prices and it will no longer be affordable for anyone. Only the first buyer gets a break, and if they're smart, they'll sell for a profit as soon as the law allows. I don't think long island youth are stupid, so it will happen. Also we don't need any more overcrowding, I would hate to see long island look like queens with 15 foot front and back yards and all the extra cars on our roads that will come from the new homes. With mortgage rates at an all time low, youth should save thier pennies and buy a house like the rest of us did. Just my opinion though.

[Roger]

By the end of this year, LI will have all the affordable housing it can handle. Thought the subprime mess was over? Guess again. The Wall Street Journal published an article less than 2 weeks ago indicating that of the last 200,000 mortgages written, 34% of them were subprimes.

The catch is that instead of banks financing them, the builders have taken over the helm. And after a year, they're selling them into the aftermarket. Now you ask, "who'd be crazy enough to buy one of these?". None other that the FHA! Yep. And Congress isn't doing a damn thing about it.

So Mr. and Mrs. Taxpayer, you'll soon be footing the bill for a new wave of foreclosures, on top of those that are already adding to the housing crisis.

[Can you spare a dime]

Reality to Levy: Taxes, taxes, taxes.

Long Islanders are the most taxed people, per capita, in the history of the world in absolute amount of money raised.

Affordable anything? Why don't you calculate the effect your taxes have on everything?