All in the name of socialism.
Make no mistake, one neighborhood in South Charlotte will be pitted against another neighborhood in South Charlotte as now the city of Charlotte must abide by its new “affordable housing” regs. Those rules adopted last night put a bulls-eye on the “stable” neighborhoods of South Charlotte. The politically weak and unorganized neighborhoods will wind up with the low-income housing next door.
As if local housing values are not under enough pressure as it is.
Update: More good housing news via Bloomberg:
Real-estate-tax collections, a main source of income for cities, slid $5.3 billion, or 2.9 percent, from a year earlier to $177.1 billion, the Census Bureau reported today. The drop exceeded a 2.5 percent decline in the first quarter of 2010, the data show.
We are so screwed.