My Housing Solution

Author: Rory B. Bellows

Chairman Obama is pushing this new plan to have the earners subsidize the takers by having the government back refinancing mortgages. His rationale is that the earners will benefit from this because empty houses on the block willcause property values to drop. Instead, we have to put 9 million or so at risk loans on the tax payers backs so the irresponsible can continue to live in houses they cannot afford and will never be able to afford.

My solution: raize them. Knok the empty houses down. Ifwe are going to pay people to dig holes and fill them up, which is what Chairman Obama’s swindle us package will do, why not dig holes where these foreclosed properties are and fill them up? The benefit is two fold, instead of trying to maintain housing prices by subsidizing risky mortgages, why not decrease the supply of houses. If people can’t afford to live in a house, they shouldn’t be there and the house never should have been built. Knock them down and let the market sort out what prices should be as opposed to when they were artificially inflated during the government created, looking at your Alan Greenspan, Community Reinvestment Act Supports and Fannie and Freddie Mae, housing bubble. Decrease the supply and prices will rise. It’s simeple economics.

The second benefit is everyone is always whining and complaining about suburban sprawl and open space. This is a simple solution that won’t require Governors to continually stea hundreds of millions of dollars from the tax payers so government can buy land that no one can ever use.

That’s it. My simple solution.

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