Missourians May Lose Their Homes Because of State-Supported Loans

State and Local Government | April 29, 2021

By David Stokes | Read Time 1 minute minutes

As reported by ProPublica’s Jeremy Kohler and Haru Coryne, more than 100 homes with PACE loans in metropolitan Kansas City and St. Louis are at risk of being sold at public auctions after their owners fell at least two years behind on payments, according to a ProPublica analysis. Of those homes, at least 29 are slated for sale at auction this year.

Read the full story from ProPublica

David Stokes joined The Gary Nolan Show and The Pete Mundo Show to discuss what PACE loans are, the issues with them and why oversight is vital when the government decides to outsource to the private sector.

About the Author

David Stokes

David Stokes is a St. Louis native and a graduate of Saint Louis University High School and Fairfield (Conn.) University. He spent six years as a political aide at the St. Louis County Council before joining the Show-Me Institute in 2007. Stokes was a policy analyst at the Show-Me Institute from 2007 to 2016. From 2016 through 2020 he was Executive Director of Great Rivers Habitat Alliance, where he led efforts to oppose harmful floodplain developments done with abusive tax subsidies. Stokes rejoined the Institute in early 2021 as the Director of Municipal Policy. He is a past president of the University City Library Board. He served on the St. Louis County 2010 Council Redistricting Commission and was the 2012 representative to the Electoral College from Missouri’s First Congressional District. He lives in University City with his wife and their three children.

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