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Thursday, November 13, 2008

Just a Thought, Mr. Obama

Hello, Mr. Obama. Congratulations on the election. I know you've been busy picking your staff and that's probably why you haven't responded to my post yet, dated November 5, 2008. And I know you have the middle class and the lower class people to respond to first; as you have said many times, they need are the most important groups to you and your party. But don't worry, we in the UPPER CLASS are patient and understand the difficulties of your new position.

If I may, I have another thought you may be interested in exploring. The subject involves the housing crisis and the future uses of the Federal stimulus packages. I do not wish to debate who started this mess in the housing crisis as I feel we may come to very different conclusions. Let's just say we are both in this together now and I'd like to propose one solution to the problem.

It seems to this blogger that we need to first correct one of the original problems of the housing crisis. Anyone who paid attention to their Economic teacher in high school has an understanding of supply and demand and how that effects the prices of homes, and as you know, we have a glut of homes sitting on the market. There are so many reasons why people are not in the mood to buy right now that without your (Federal) help, we are just not going to get the ball rolling, if you see what I mean.

The banks and the Federal government has done a decent job with some foreclosures recently by altering existing mortgages and that has cost a lot of money, but that's money well spent. This alone won't stop the spiraling drop in housing prices so I ask for you to consider the proposal that is going before Congress now that has been presented by this nation's builders.

The proposal is called "Fix Housing First" and basically for any house bought over the next year a tax credit of up to $22,000 would be given to the new homeowner. Also, there is an interest rate buy down on new regular 30-year fixed mortgages to 2.99% for the houses purchased through June 30, 2009. People smarter than me can give you the details of this proposal and I would even go so far as to suggest doing this Federal assistance prior to assisting the auto industries and providing money for infrastructure.

My favorite quote of the day was listed in yesterday's Wall Street Journal, by Chief Executive at Toll Brothers Inc., Robert Toll, when he said, "We certainly need new tunnels and bridges, but they will be bridges to nowhere if they lead to places where there are empty homes".

I look forward to your comments on my post and hope you are resting up prior to your big inauguration celebration.


Blogger Casey said...

OMG woman, you crack me up. I really think Barack should bring you on as a political consultant. Your ideas are pretty good and you can help him unite the parties. You up for the job?

November 13, 2008 at 10:11 AM  
Blogger Warner said...

A logical position that leads me to just one question . . . where did you find those patriotic panties?

November 13, 2008 at 3:27 PM  
Blogger beth said...

Casey: I think every President from now on needs to consult with at least one Mommy Blogger and I'd love to take that job. Do you know any of his people? If so, have his people call my people.

Warner and others who've asked: I bought those undies at a cute little store in North Scottsdale, called I-Ology (corner of Pinnacle Peak & Hayden).

November 13, 2008 at 4:17 PM  
Blogger Lisa Eshelman said...

Real Estate is the back bone of our economy and I would love to see a tax credit to get people to purchase. Arizona had made a proposal to use the funds they received as a state last month to help with down payment assistance for people to purchase foreclosed homes. This sounded like a whole new version of down payment assistance and putting people into homes that could not afford them. I like this new proposal. This new proposal would be good for investors(not speculators), who are an important sector of the real estate market. We need financally secure people making rentals available. How many renters have found themselves homeless because the investor has been foreclosed on.

November 14, 2008 at 7:52 AM  
Anonymous Keith said...

Maybe you should work for Obama!

November 18, 2008 at 4:29 PM  

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