I’m glad to see the government is helping the little people:
GALVESTON, Texas — The house owned by pop star Beyoncé Knowles’ father, Matthew, is one of four houses that was added into the federal buyout program after city council members in November directed the city to include properties within 200 feet of the mean low tide.
The Knowles family’s Pirates’ Beach house was added in the program between November and January, when the number of houses the city approved for a buyout jumped from 64 to 68.
The Knowles family’s take ? A cool $ 425,000.
Build a house close to the beach in a hurricane zone.
Get the government to buy it from you after a hurricane.
Nice work if you can get
Should be no surprise–after all, even the Libertarian-revered John Stossel suckles at the teat of government housing dollars:
http://abcnews.go.com/Business/Insurance/story?id=94181