Emmer: A peculiar alchemy
Today’s economic lesson: Subsidized public housing in Aspen is financed by the real-estate transfer tax (RETT). It’s the only source of money for more units. Some years there’s more, some less.
Politicians and APCHA wannabes ceaselessly whine for more units. Politicians promise Rube Goldberg (Look him up) schemes to make golden APCHA units out of lead (Look that up, too). But, the RETT sets an immutable limit. There will be a quiz.