1. Triston15's Avatar
    There was good news recently for homeowners to celebrate when KB Home agreed to settle a class-action lawsuit that earned them the legendary distinction as the only builder in the country that can no longer require binding arbitration.

    It would have been remiss had the news failed to mention how profitable the giant of the industry has become with its government endorsed ‘Affordable Housing’ program.

    The key to the building industry’s success has been government support. To assure success the industry coined a new phrases ‘Affordable Housing’ to broaden the federal governments scope of possibilities, replacing the old more restrictive ‘low income housing’ term. So it has become anything but low income for the giants of the homebuilding industry and has in fact made billionaires on the backs of taxpayers.

    The tragedy of it all is only now being felt and reported, as the new suburban slums begin to emerge and corporate giants begin to pay token fines, while taxpayers pick up the tab for many decades to come.
    Today financial experts talk about the housing bubble, the highest foreclosure rates in history, epidemic proportions of mortgage fraud, and the defective home construction that has taken place. However, little attention has been given to the link between federal housing programs, foreclosures and to outrageous profits of homebuilding giants.

    “You can be very sure if there is a good federal program to help the poor and less fortunate, you can bet there is a fortune to be made by big business and the home building industry will be there” cautioned **** Weekley, who is expert in this field.
    2008-06-12 11:01 AM
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