When Barack spends the next 45 days blaming George Bush for the housing value problem, sub-prime mortgages, Hurricanes, global warming, Iraq and now Afghanistan, and of course the "bail-outs" ... he may need to be careful that he follows the money ... to his own pocket.
See Team Hammond for list of top beneficiaries.
We have said it here and on other Northwest Indiana real estate sites, the problems impacting Fannie and Freddie are greatly influenced by too much regulation, reverse red-lining, and out of control spending by Congress at the Federal level.
Some suggestions for political leaders who actually want to help, not just make things worse:
- Cut your local and state budgets as deep as possible now
- Eliminate any regulations that arbitrarily push housing costs up, eliminate foolish impact fees that were greedily contemplated when everyone thought housing could pay all the bills
- Talk to your engineers and planners, are they engaged in development concepts that will help create jobs and homeownership?
- Create down payment assistance programs that help renters move to homeownership, but use free market means
- Use a ton more common sense, stop relying on regulations to replace brains in government
- Lead with your pocket-book, buy real estate now
- Privatize things that private enterprises can do, government tends to stay in business far too long. Fannie and Freddie should have been fully privatized in the early 2000's
- Stop blaming, and seek to solve local and regional problems with both sides of the aisle