Obama-Housing Proposal and The Hired Help
The Housing proposal as a stimulus for the economy seems to have little chance of providing significant relief for the home builders and real estate in general. I know that housing is at the heart of our current problems and until the current inventory is reduced and building starts there will be no meaningful recovery.
I was once a developer/builder of homes. Not a big builder but big enough to know more than a little bit about the industry. I have recently been thinking about the steps concerning the housing problems I would take if I were Obama. His chosen path is not one that I considered or even have a clue how it will work. I think that it might even be unconstitutional in the way he plans to discriminate against segments of those people having difficulty in meeting mortgage payments.
I’m not a constitutional lawyer so my suspicions on that point need to be looked upon with caution.
The proposal with temporary help provided to help stave off foreclosure makes no sense to me. Truthfully I really don’t understand how the administration came up with this plan. They obviously didn’t talk to anyone who knows about housing finance and the real estate industry.
I have spent some hours calling real estate friends around the country and have not found one that thinks the plan makes sense. One friend with decades of successful operations in various segments of the real estate business said “ Buck, the current problem is like being in battle and having your leg blown off and then the Corpsman shows up with a pack of Band Aids to treat the wound”.
Between paragraphs two and three of this post I called a lawyer friend who has considerable Constitutional expertise to ask his opinion on the bill. He opened the conversation by telling me not to say anything bad about Obama since he thinks that Obama is exactly what the country needs. I cut to the chase and asked directly about the Constitutional question. I got a lawyers’ answer which was “there might be a Constitutional problem in treating “A” differently than “B” with the help being offered only to certain home owners, but I really need to study the proposal in detail”.
I asked my lawyer friend, (an Obama cheerleader) how the president has allowed so many miss- steps to happen such as Geitner ,Holder, Daschle and others in just a few weeks. The answer was “President Obama is a good man who has some really inexperienced and shaky advisors.. He’ll get it straightened out”. I hope he is right.
I don’t think there is a President of The United States training course on-line or at some university, but if there is, President Obama should enroll immediately Even if he can’t spare the time for the whole course he should at least audit the class on How to Hire The Help.
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