Fannie Mae-No Politics (FNMA)

[Sogo]

Are you referring to when Chicago was deciding how to dismantle Cabrini Green and Taylor homes? That was back in the late 1990s. And the city did end up knocking those buildings down and sending most of those residents into section 8 housing units scattered throughout the entire city, and paying market rents to the landlords via subsidy from HUD. Correct? I watched those Cabrini buildings get torn down! The impetus behind the whole thing was, I thought, that the land on which Cabrini sat had so much unlocked value, given its prime location, if only it could be flattened and redeveloped. So I always thought the real estate industry was behind the push to redevelop Cabrini and move those residents.

Or are you referring to an earlier time? If so, I'd love to hear about that because I probably am not as aware of what happened back then. Please give more detail if you have time. Sorry for the delayed response on this but I had always meant to reply since I first read it.