Buy A House, Get a Crop Subsidy

Posted by: Peter Coy on July 5, 2006

Check out this great article in this past Sunday’s Washington Post about how some people are getting crop subsidies from the federal government because they built their houses on farmland. The lead example is an asphalt contractor in Texas who gets $1,300 a year. A surgeon in Houston got nearly half a million dollars over the past decade.

Reader Comments

Sally

July 5, 2006 3:13 PM

The late Sen. Proxmire used to give out awards to wasteful government spending. This would be high on his list. No wonder farmland is disappearing and subdivisions are rising on farmland. And no wonder Nasa is trying to find planets where humans can live, because we're killing the one we're on.

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BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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