According to the Post, Fairfax County Board of Supervisors Chairman Gerry Connolly is proposing to use county funds to buy foreclosed homes and sell them at below-market prices to working families.
I know that both Maryland and its two largest counties, Montgomery and Prince George’s, have significant budget problems. But foreclosed homes already sell at discounts and the program’s cost would merely be the difference between the low purchase price and the sale price to families. Additionally, such a program would help stabilize the property tax base by preventing neighborhood deterioration. I do not regularly applaud Virginia’s economic policies but here is a good idea that should be considered in Maryland.
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