Business Roundtable recommends
Since the beginning of the housing bubble and burst and the first steps to interject money into failing banks, the “Reinvestment and Recovery Act” had a great opportunity to actually do good. Nevertheless, unfortunately the White House and Congress had limited vision as to what would truly help stimulate the housing markets. It is all warm and fuzzy to provide the Housing Act of 2008 and revised 2009 tax credit, but the real point is jobs! Any possible first time homebuyer is most likely the hardest hit during this economic meltdown. They are not the people who will bring the housing market back; it is the investors, the vacation home purchasers, and the folks with good credit and money in the bank.
I came across this press release and for once, I thought, YES! There are folks out there with some sense. Now we need to push our lawmakers, congressional representatives, and President to move forward and guarantee these recommendations and bring them to reality. It is so obvious where this started, the ripple effect of the housing burst is why we are in the position we are in now, and wasting money and taking advantage of a economic meltdown to push an addenda of a more liberal ideology is simple wrong.
When the housing market busted in early 2008 the ripple effect created such a loss of jobs and income from the construction crews, the appliance vendors, the furniture stores, and the REALTORS.
Then that flows to the restaurants, the shopping malls the car dealerships and so on and so on. (I think you get my point) Bringing back that sector of our economy will ensure the ripple effect in a more positive way.
I encourage everyone to read this article by the “Business Round Table” and to forward it on to your congressional representatives across the country.