There’s a lot of talk these days on helping the housing market. Some good, some off the wall, but everyone agrees that the more ideas the better. Here’s a quick look at what some are saying:
The Boston Fed head said that the link between rich and poor cities and distressed housing rates is clear. His solution? Well he’s definitely onboard with more “equitable” revenue sharing — meaning states and Feds need to funnel more state aid to where it’s needed. More good money after bad or necessary sand bags?
The Obama administration said yesterday that it’s made headway in getting banks to give nonprofits and municipalities a shot at buying foreclosed homes ahead of private “speculators.” The administration’s concern is that “speculators” will just flip properties with minimal improvements — unlike nonprofits and local governments which have access to a $7 billion fund set up by congress for this purpose.
And Real Estate Now blogger Scott Van Voorhis says a reader suggested the following: a “cash for clunkers” idea, but for homes. Buy an energy-efficient home, get a big rebate (like the homebuyer tax credit), and bulldoze the old place.
File under: Invest in bulldozers?