Tearing down, building up homes in Buffalo : City Hall : The Buffalo News

While this may not be of interest everywhere since it is generally a local issue, the same idea takes place in most government supported/subsidized programs. Good intentions do not mean good results.

Tearing down, building up homes in Buffalo : City Hall : The Buffalo News:

"....Buffalo's 1,500 subsidized homes are now assessed 12 percent below their initial $123 million price tag, and that houses that went back on the market sold for an average 24 percent below their original price.

The series also disclosed that subsidized homes built in recent years cost upwards of $200,000 per house, with subsidies going to developers as well as homeowners — totaling as much as $100,000."

So in essence taxpayers are overpaying by up to $100,000 per house. Wow. Crazy.