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Control over housing capital budgets for combined authorities who want to shift from spending money on housing "benefits to bricks".
The public housing capital fund, which pays for such repairs, would be cut by $417 million, or 14.7percentto to $2.4 billion.
By designating money for affordable housing capital funds, the amendment would establish a true housing trust fund, not one dependent on an annual discretionary appropriation.
Advocates for the homeless, long locked in court battles with the Giuliani administration, point to years of cutbacks in the city's housing capital budget as a major cause of the rise in demand for shelter.
In addition to our proposals to remove borrowing limits that arbitrarily restrict local councils from prudent borrowing to build the homes their communities need, the government should also seek to prioritise housing capital expenditure by allocating more each year to the budget for affordable homes.
[Murphy cited the example of the Japanese real estate bubble in the late nineteen-eighties and early nineteen-nineties.] I was looking at that, and I was thinking, "Geez, these prices are assuming that the returns from housing — the rental cost of housing capital — is going to be really high in the future.
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State houses, capital domes, courthouses, the bastions of bureaucracy, were visible reminders of the power of government over the lives of its citizens.
Some might have thought it verging on the blasphemous for the man in charge of one of the world's art house capitals, but he was nonetheless delighted.
In the United States, retirement incomes are supported largely by three pillars: Social Security benefits, employer-provided pensions, and personal savings (including non-housing capital asset wealth and home equity).
According to census figures released last month, residential developers in New York City are building at the quickest pace in decades, and Brooklyn, perennial second fiddle to Manhattan, has become the new-housing capital of New York, with permits for more than 6,000 new housing units approved last year.
The return to non-housing capital actually ends up looking fairly flat during the period in which Piketty sees the resurgence of gilded age wealth patterns.
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