Showing posts with label housing. Show all posts
Showing posts with label housing. Show all posts
Thursday, December 8, 2011
Community Building
Here is a great article from PlaceShakers on how community organizations and connectivity have declined and how we must rebuild them.
Tuesday, March 30, 2010
Let Mortgages Fail
Here is a convincing argument to let mortgages fail and foreclosures to continue: http://www.realclearmarkets.com/articles/2010/03/30/lower_prices_more_foreclosures_will_solve_housing_98397.html
You have to let market forces take effect. There is no possible way for the government to subsidize people to stay in homes long enough to recover the value they've lost in the recession. Lower home prices, lower property values, and a balancing of housing inventory is a good thing. Over-supply and inflated values need to be combated, but artificially propping them up with government spending will not help them permanently stabilize. Many families have been hit hard, and many have declared bankruptcy. But unless the market truly balances itself, these trends will continue.
You have to let market forces take effect. There is no possible way for the government to subsidize people to stay in homes long enough to recover the value they've lost in the recession. Lower home prices, lower property values, and a balancing of housing inventory is a good thing. Over-supply and inflated values need to be combated, but artificially propping them up with government spending will not help them permanently stabilize. Many families have been hit hard, and many have declared bankruptcy. But unless the market truly balances itself, these trends will continue.
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