The Setting, Part 9

The whole housing business, which these days is precarious in various ways, is something yours truly never sorted out completely.  If one is an “owner,” one either owns a place outright or carries a mortgage.  (In other words, in some cases the loan company really owns it.)  The “owner” can be a corporation.  If it’s a relatively big apartment complex, the owner probably is a corporation.  An individual owner was listed for the previous apartment complex, but it was also stated that there were really five or seven people owning it. 

While poking around one day, yours truly happened upon some government figures which said there was a hefty mortgage on the other apartment complex, although it had been renovated more than two decades earlier.  Possibly it was refinanced.  The presumption is, the business (and it is a business) is set up on the basis of some kind of government backed loans, and it operates on other government money in the form of a good many tenant subsidies arrived at by government contract.   While it’s considered private enterprise dealing with paying citizenry, there’s no comparison to owning a house outright. 

Further, in order to be in on the dealing, it’s not necessary to “own” one or more buildings with a hundred or two hundred tenants.  City of Covington Housing (which is subsidized housing) as is known, has sub-contracts with private landlords claiming ownership of a few rental houses (or something like duplexes) with only a few tenants.  It’s all a big, cross-referenced bureaucracy involving federal, state, and city governments, private institutions such as churches and labor unions and people. 

Education has many uses.  


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