Today as I was listening to Governor Barbour of Mississippi speak about the election polls, he was asked about the funds that were being redirected to the Port in Gulfport as opposed as going to additional affordable housing. Although it did make sense that additional infrastructure was needed at the port for its and Casino purposes, it was also clearly obvious that the Governor knows the immediate necessity of affordable homes.
Of course, most of the homes along the coast were destroyed during the storm. Condos are the majority of the new permits pulled over the last year, where most of their asking prices are too steep for people getting back on their feet with new jobs, in addition to the 14,000 temporary FEMA trailers still in use today. It is also obvious that the living conditions in these temporary stations are diminishing and formaldahyde has been one of the worse factors.
Don’t be surprised if very soon, FEMA offers full rental vouchures for a period of no less than 2 years to approved tenants. Approvals may hinder on having employment, being a single parent, Advised Base Flood Elevation compliance, etc. If this is the case, I will assume that the rental vouchures will be good for rent prices set by HUD. A 3 bedroom unit has a rental value of $1057 from HUD. These are not predetermined values by the public. It is determined by HUD and is documented on their guidelines for average rental pricing.
The MDA Small Rental Assistance Program is one way that people can take advantage of offering rental units to those in need. If the MDS SRAP is not available, then real estate investors can purchase duplex housing for affordable pricing, take their bonus Go Zone Depreciation and have a nice income producing property for years.
New Go Zone Preconstruction News
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