Home

Frugal Living: A Millionaire Living in Public Housing

In a report from Fox Boston, government audit shows that the case of a millionaire living in public housing and having federal tax dollars pay for the rent is not an isolated incident. The article added that the federal audit found out that thousands of families are making incomes that are considered too high to qualify for public housing.

Furthermore, this case happens because families need to meet HUD's income requirements to get the housing and they aren't required to leave even after their salaries increase. Department of Housing and Urban Development's Office released a new audit report and found out that over 25,000 families earned too much to qualify for public housing, as reported from Washington Times.

The article added that according to the audit report, at least 1,242 families earning income exceeded HUD's eligibility limits have lived in public housing for over nine years. The audit report added, "This condition occurred because HUD regulations require families to meet eligibility income limits only when they are admitted to the public housing program. The regulations do not limit the length of time that families may reside in public housing."

The article from Boston gave an example wherein a family with an income of $212,000 a year has been living, for decades in public housing at the rental rate of a measly $525 a month. Another is a Nebraska millionaire who has assets worth $1.6 million but pays rent on a house for $300 a month.

Also, more than half a million poor families are in the waiting list of U.S. Department of Housing and Urban Development. In addition, some are in need of affordable housing but are denied because they are taking advantage of the legal loopholes.

U.S. Congressman John Mica House committee in charge of overseeing Housing and Urban Development, said "Unfortunately, there are people that game the system." However, HUD officials don't see it that way. 


Join the Discussion
Real Time Analytics