Okay,
I just have to stand up onto my soap box and yell out to the crowd.
Bail Out!
The banks are not the ones we need to bail out, we need to bail out the homeowners!
What would happen if the U.S. Government would buy up several streets in each town. I am talking about streets that are devastated by foreclosures where the for sale signs out number the residents.
Let's take those streets back, get them into the public domain. Use them for the public good and service.
This would take homes off the market and increase home prices for the remaining neighborhoods.
This is the ideal time for the government to secure the land for the long delayed highway project. Are your Schools overcrowded? Let's secure the land for new schools and libraries. The cities do not necessarily have to build right away, but the land will be 'banked' for when they are ready
Why do we have to purchase our eminent domain property at the peak of the market? This is the ideal time for the for our government to take advantage of the lower prices currently available.
What becomes of the homeowners who are displaced in these projects? They will purchase replacement properties to move to.
The result the glut of homes on the market shrinks and prices go up and the economy stabilizes again. With the better economy, people get hired to good jobs and homes get purchased. It's a good cycle to be in.
Send a message to both Presidential candidates and let them know that there is an option. Let all you local government Representatives know that we have options out there!
Let's get some chatter going on this. Can you spread the idea around your community
Right on Michael. I worked in the engineering profession for 35 years and whenever there was a technical problem, it was essential to identify the root cause and then go fix it. Otherwise, the problem would continue to recur. Is it any different for our economic problems? Isn't the root cause at the current tme, regardless of how we got here, the foreclosures and declining home prices? Cash infusion into banks is nice but how does that address the root cause?
Good Idea. Something I haven't heard of till now and it makes more since than what they are trying to do.
jared.pro
Georgia gov't is alocating millions of dollars to specific counties that are hardiest hit by foreclosures. It is a start in the right direction.
Michael, if they had not already given the banks billions of dollars I would be in favor of this. To add more debt to our already incredible load I fear would do more harm than good.