Follow us on Instagram
Try our daily mini crossword
Subscribe to the newsletter
Download the app

Opinion

The Daily Princetonian

For employees, a small act of repair

The American dream just got a little more real for the University's low and moderate-income workers.On Monday afternoon, the University announced the launch of a new program to enable homeownership among the men and women who wash our dishes, clean our bathrooms and prune our hedges.The program will provide, among other benefits, below market-rate mortgages, will require no down payments and will provide $1,000 to cover closing costs.If this doesn't sound like big news, consider this: The gap between what many Princeton employees earn and what it costs to rent or own a home in Mercer County is now so wide that many University workers face the prospect of homelessness when the paychecks stop coming after school lets out in May.The new program is not a panacea for what is truly a crisis among the University's working families ? many, if not most, will still find it difficult to find affordable housing in Mercer County's overheated real estate market ? but it is a start.The new program is a recognition on the part of the administration that a campus so divided between haves and have nots ? between the students and the servants ? cannot be a healthy environment in which to train the leaders of the next generation.

OPINION | 10/19/2005

ADVERTISEMENT
The Daily Princetonian

For employees, a small act of repair

The American dream just got a little more real for the University's low and moderate-income workers.On Monday afternoon, the University announced the launch of a new program to enable homeownership among the men and women who wash our dishes, clean our bathrooms and prune our hedges.The program will provide, among other benefits, below market-rate mortgages, will require no down payments and will provide $1,000 to cover closing costs.If this doesn't sound like big news, consider this: The gap between what many Princeton employees earn and what it costs to rent or own a home in Mercer County is now so wide that many University workers face the prospect of homelessness when the paychecks stop coming after school lets out in May.The new program is not a panacea for what is truly a crisis among the University's working families ? many, if not most, will still find it difficult to find affordable housing in Mercer County's overheated real estate market ? but it is a start.The new program is a recognition on the part of the administration that a campus so divided between haves and have nots ? between the students and the servants ? cannot be a healthy environment in which to train the leaders of the next generation.

OPINION | 10/19/2005