Thursday, August 25, 2005

Middle class Americans are nothing but roadkill

Because plain vanilla detached homes and condos in major metropolitan areas often nowadays sell for $500,000 and up, the government should do all it can to discourage speculation, and diminish demand.

One way to discourage speculation is for the government to issue an emergency regulation to the banks to issue home mortages only to people pledging to live in the property for at least a year.

Illegal immigrants have to live somewhere. So simply strictly enforcing the immigration law would make a very big difference in rent levels and housing cost particulary at the lower end of the property market.
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