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A Family In Public Housing Makes $498,000 A Year
By Lisa Rein, Aug 17, 2015 Washington Post
In Los Angeles, a family of five that’s lived in public housing since 1974 made $204,784 last year but paid $1,091 for a four-bedroom apartment. And a tenant with assets worth $1.6 million — including stocks, real estate and retirement accounts — last year paid $300 for a one-bedroom apartment in public housing in Oxford, Neb.
In a new report, the watchdog for the Department of Housing and Urban Development describes these and more than 25,000 other “over income” families earning more than the maximum income for government-subsidized housing as an “egregious” abuse of the system. While the family in New York with an annual income of almost $500,000 raked in $790,500 in rental income on its real estate holdings in recent years, more than 300,000 families that really qualify for public housing lingered on waiting lists, auditors found.
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