MS:Friars Point:5591

From StimulusWatch.org

[edit] General Description

Please help improve this project page by replacing this text with a description and other factual information about the project. Don't know much about the project? Call your local government and ask for details.

[edit] Points in Favor

Build new affordable green homes where you can. Most of the downbeat houses are in bad shape and over 70 years old.It will cost less at the end of the day to replace old beat up houses of this type with something mordern and green. To view green building manfactoring in Mississippi view www.egbtech.org.

[edit] Points Against

With the glut of overbuilt housing in the US it would be better to provide relocation costs than to build new houses. We need to use the existing inventory.

That comes to $400,000 (math error, correct number is 40,000) per 'entry level house'. A bit much I think. Why not use Habitat for Humanity labor, buy the lot and building materials for maybe $120,000 per house or less. Or as suggested above, buy distressed houses, refurbish and sell them to return the funds.

Don't they have any entry level homes in this city? I can see giving low cost loans to low income residents but what is this Building about?

My math says it comes out to $40,000 per house, but I have seen houses going for less than that. It makes more sense to make use of the existing houses before building new ones.