Today, the Boston Globe printed an important front-page article on the complicated world of privately-run affordable housing developments in Chicago. The piece uses Barack Obama's associations with local developers who benefited from affordable housing subsidies as a hook. But at its root, the article is about flawed policies that put public capital in the hands of private developers, but give them little incentive to adequately maintain the properties they build and fill with low-income families.
Here's an accompanying video, which focuses on the Grove Parc development in Chicago's Woodlawn neighborhood:
Conservative bloggers are sure to raise a ruckus over the article, particularly because indicted Democratic fundraiser Tony Rezko's name comes up repeatedly. Rezko made a good deal of money within the affordable housing industry here. Numerous other Obama supporters -- including Valerie Jarrett, Alison Davis, and Bishop Arthur Brazier -- have also been linked to federally-subsidized properties in Chicago that ultimately fell into disrepair.
But the issues raised by the article aren't necessarily ethical or legal ones. Instead, I'm left with this question: from a progressive standpoint, what kind of federal housing policies would we like to see advanced by an Obama administration?
Much of the energy at the federal level has recently been focused on passing the Affordable Housing Trust Fund, which Obama and most Democrats support, along with many housing advocates. But as the article makes clear, federal subsidies doled out to private developers don't always serve the needs of low-income residents.
So what improvements can be made on this system? And what alternative models are out there? These are questions we'll be looking into in the coming weeks.
It's an important debate and I'm glad the Globe chose to spark it.
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