Lanser on Real Estate has an interesting poll. Orange County is infamous for its parts in the historic housing bubble and while the OC Register was asleep at the switch they are playing catch-up. Here's the poll they are running:
"Tell Obama, ‘Best fix for real estate is …’
* Cheaper mortgages
76 10% of all votes
* Getting lenders to lend
64 8% of all votes
* Tax credits for 1st-time buyers
32 4% of all votes
* Foreclosure moratorium
33 4% of all votes
* Get overall economy healthy
132 18% of all votes
* Zippo. Market needs to fix itself.
416 55% of all votes
Total Votes: 753 Started: November 10, 2008
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Everything comes with a cost. I've yet to see any evidence that benefits of meddling exceed the costs.
5 comments:
But I thought the first thing Obama was going to do was pay my mortgage!
But the point of meddling is to have someone else pay the cost for your benefit. That is the very definition of government.
Lanser also said that the mortgage interest deduction should be doubled. That's double the subsidy that I will pay for to idiots who buy expensive houses.
What say we double it and cap it at 150% of median price equivalent? Equity preservation without rewarding risky behavior.
Why don't we remove it! I'm a home owner and still think it's silly to supplement people's purchase. Don't allow any interest deductions.
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