Shortly after becoming a state senator in 1997, Obama told the Chicago Daily Law Bulletin that his experience working with the development industry had reinforced his belief in subsidizing private developers of affordable housing. more.
Unfortunately, Obama's housing Policy is not the "first grim look" at this Candidate... Although the media won't say a word... The candidate endorsed subsidies for private entrepreneurs to build low-income units... But, while he garnered support from developers, many projects in his former district have fallen into disrepair...
Binyamin Appelbaum writes:
"State Senator, Barack Obama's eight year representation of 504 apartments subsidized by the federal government are 99 units vacant, many rendered uninhabitable by unfixed problems, such as collapsed roofs and fire damage. "Obama had said, "That's an example of a smart policy... The developers were thinking in market terms and operating under the rules of the marketplace; but at the same time, we had government supporting and subsidizing those efforts."
"Mice scamper through the halls. Battered mailboxes hang open. Sewage backs up into kitchen sinks. In 2006, federal inspectors graded the condition of the complex an 11 on a 100-point scale - a score so bad the buildings now face demolition." Story.