From $13 Billion to One Senior: Unmasking the 'Submerged State' in Housing Policy
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| photo by Don Leach |
This isn't a shelter, it's a permanent home for people like Robert Taylor—a small business owner who paid taxes for 40 years before getting sick. The funding we are voting on today (TEFRA/Bonds) is what allows 'Robert' to move out of his truck and back into our community. If we vote 'No' on this bond, we aren't stopping 'homelessness'—we are keeping Robert in his truck.
Read the full article hereWe often speak of housing policy in the abstract language of liquidity, collateralized advances, and z-scores. A new report from the Urban Institute estimates that the Federal Home Loan Bank (FHLBank) system generates between $13.2 and $21.4 billion in economic stability annually. But what does $21 billion actually look like? It seems like Robert Taylor. A former motorcycle shop owner in Huntington Beach, Robert spent years sleeping in his truck until a complex web of invisible government financing—tax credits, bond issuances, and FHLBank advances—built the Pelican Harbor community where he now lives. In cities like San Jacinto, we cheer for the visible emergency grants to clear riverbeds, yet we often ignore the administrative machinery that builds the permanent homes. It is time to close the gap between our digital governance and our on-the-ground reality: if we want more Robert Taylors, we must stop ignoring the "invisible" government that saves them.