The Palm Beach County Commissioners along with representatives from many different local cities. Including Boca Raton, Delray Beach, and Boynton Beach are pushing Developers and area Politicans to add affordable housing for the many Policemen, Firemen, Teachers  and County workers that fill the very important infrastructer role in our area.   Many of our most trusted friends and employees have been priced out of the marketplace. With the surge in housing cost, there are many local employees. That can no longer buy a home in the same area, that we need them the most.  

   The Palm Beach County Commissioners passed a resolution demanding Developers to set aside a percent of there saleable housing for affordable housing. The only problem here is that affordable housing sometimes can be $300,000. or above depending upon which project that we are talking about. If you figure that a person can usually buy a home at 3 times there yearly income. This is a front end ratio for the loan officer of 33% which is above the FHA guideline of 29%. There yearly income would have to be $100,000. per year. There yearly salary would have to be more  if they went with a  standard FHA Loan.

  There are many Loan Programs out there, that say that they are giving special programs that will help ease this burden. In fact , many of these programs are giving them there standard programs just dressed up with a different name. There are grants and other packages that many cities and State agencies are giving out also. The only problem that you have here are the long series of hoops that you have to jump thru to make this happen. If the area is to continue to grow and flourish. We as a people have to support our our best and lease selfish of workers and friends and continue to push the politicans to come up with a better way of handling this. 

This is the importance for Boca Raton Real Estate, Delray Beach Real Estate, and Boynton Beach Real Estate and all of South Palm Beach County. Be able to offer affordable housing or watch as our finest men an women go somewhere else.  

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