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Home Our Perspective This Is Real: The White House Wants To Stimulate The Economy By Building More Cheap Housing
This Is Real: The White House Wants To Stimulate The Economy By Building More Cheap Housing PDF Print E-mail
Written by Steve Meyers   
Thursday, 29 July 2010 11:16

 

shovel fenty

Image: The White House

We must admit to being a tad perplexed by this post up at The White House blog:

Affordable Housing in the Recovery Summer

That's right, apparently our central planners, in their infinite wisdom have decided that what the economy is really lacking right now is more cheap housing.

Here's what Rosie Rios, the US Treasurer wrote:

Access to affordable housing is a challenge facing communities across the country. But the Recovery Act is helping our nation meet that challenge head on by providing states with cash to help them finance low-income housing construction at a time when too many projects would otherwise be stalled. These projects are helping revitalize communities through both the creation of new affordable housing developments and the tens of thousands of jobs being created to build them.

 


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Ron Rebner |173.88.241.xxx |2010-07-29 13:15:45
We just don't learn from our mistakes. I know someone (a very good person) who has been on unemployment for a while. He has defaulted on his mortgage and was prepared to lose his home. He just checked again into one of these government programs and, you are not going to believe this. They are trying to get his mortgage payment down to 31% of his unemployment check! They are looking at a combination of lowering the interest rate and going beyond 30 years. This is crazy. Also, currently, Fannie and Freedie only require 3% down on a mortgage and in some case zero! What? We are sowing the seeds for the next fiasco in housing. Our government is being stupid and irresponsible. Please get out and vote (and tell your family and friends) and stop these people from further horrific damage.
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Last Updated on Thursday, 29 July 2010 11:19
 

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