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On 2026-06-28 @jasonc_nc argued a suggested plan would

2026-06-28 · 19:20 UTC ·@jasonc_nc ·1 min read

Brief

Jason C. (@jasonc_nc) warns that a proposed housing approach would weaponize state power to displace owners, subsidize chosen new owners and run buildings below cost, eroding property-tax revenue, stopping new construction and increasing subsidy demand. He recommends letting tenant associations form limited-equity co-ops from foreclosed buildings (Housing Development Fund Corporation model) and urges fully funding transit.

Why it matters

On 2026-06-28 @jasonc_nc argued a suggested plan would: use state power to bankrupt current owners; deploy public funds to selected new owners; have a government agency provide below-cost management; ignore how to fund lost property-tax revenue; and thereby halt new construction while expanding the population needing subsidies.

Key details

  • He proposes allowing tenants associations to take possession of foreclosed or distressed buildings and convert them to limited-equity cooperatives (citing the Housing Development Fund Corporation model) and also calls to 'fully fund transit' (ref: @crosstown_line).
Source evidence

So the suggestion is

  1. Use state power to bankrupt current owners

  2. Use public funds for chosen new owners

  3. Provide below-cost mgmt services via govt agency (so new owners don’t even do the same job as the former, on top of the prior subsidies & economic destruction)

  4. Ignore how to fund this, since new owners need state funding & aren’t a net contributor back in terms of property taxes (which is what funds said government in this case)

  5. Pretend this doesn’t end all new construction and doesn’t expand the resulting pool of those now needing state subsidy as you shrink the market rate renters pool, therefore creating a cycle of rising subsidy need.

fully fund transit (@crosstown_line)

Tenants associations should be allowed to take possession of foreclosed or otherwise distressed buildings and convert to a limited equity cooperative. It’s been done before. We can improve the model with additional city support. en.wikipedia.org/wiki/Housin…

Link

Housing Development Fund Corporation - Wikipedia

en.wikipedia.org

— https://nitter.net/crosstown_line/status/2070981255575839188#m