I can't understand the accolades this program gets.
First off, it is a giveaway program - make no mistake about it.
Private yes - giveaway - YES.
Recipients get a home worth about 100k for 360 hours of "sweat equity" and a zero interest mortgage on about a 50K loan ( the other 50k is donated land/materials/labor)
So after calculating the savings on interest, the owners are getting about 120K of value for 50K therefore netting 70K in savings.
This for 360hours of work.
If it were a salaried job, it would pay about 365,000 / year!!
Now about the "sweat equity", let's be honest: Unless you are skilled in framing/siding/electrical etc. your sweat equity is really only token work.
Now I actually don't have a problem with charity. If this program were available to everyone who meets certain qualifications, it would be fine. But it's not.
Boards pick and choose those who qualfy for this massive prize based on their own arbitrary criterea.
Am I the only one who's noticed this?
2007-02-26
03:24:12
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5 answers
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asked by
Salami and Orange Juice
5