Here in Aspen, we have taxpayer-subsidized housing for people making as much as $189,000 a year. The subsidy is 60 percent to 90 percent and sometimes more.
To disguise this welfare for the middle to upper class, they euphemistically call it “affordable housing.” I call it freebie housing.
In my neighborhood, there are four units of freebie housing close to the ski slope. Based on nearby comparable places, those units are worth over $3 million each. According to the housing records, the residents got them for less than $300,000.
Aspen’s freebie housing is similarly subsidized with respect to property taxes. Because they are artificially valued at a fraction of their true value, they bear only a fractional portion of the property tax.
The way residents get their freebie housing is by winning a lottery. Insiders are very lucky in this lottery. A few years ago, four of the five city council members were getting freebie housing, including the mayor. They never recused themselves from votes on the subject.
Many of the editors, writers and columnists for the local media also are in. Continue reading