Following is a letter I send to all of the Wisconsin Representatives in November. The one solution we need to cure this economic problem is JOBS. Fell free to copy this letter and send it to your representatives.
Obtain a portion of the federal money allocated to aid the housing crisis to accomplish the following:
Identify areas saturated by foreclosed properties.
Work with the sellers (banks) to do the necessary repairs to bring these properties up to livable standards.
Identify groups that may be credit risks and provide financial education.
Provide programs to assist buyers.
Providing these services has a number of advantages. It will provide jobs, work and an income for contractors and suppliers effected by the housing slow down. Groups like Habitat for Humanity can be used on a number of properties in areas where they can provide training towards a vocational education.
This will also increase the value of the property providing an opportunity for the lending institution to decrease it’s loses. Rehabbing these homes will increase not only the values of the property but will stabilize surrounding property values, easing pressure on the entire community. This is one more piece of the puzzle to Obama’s plan to stimulate the economy.
As a sales agent representing a buyer I have the duty to identify problem areas. If the neighborhood a buyer is considering is filled with foreclosures I owe it to my client to disclose this information. If we have a plan the revitalize these areas this is no longer a defect but it becomes an asset.
Milwaukee has a number of organizations already working in the field of financial education. Some of these groups such as MAD Make a Difference Wisconsin http://www.makeadifferencewisconsin.org/govsaward.php is a volunteer organization made up of people such as real estate agents and loan officers that would jump at the chance to be represented in front of a group of individuals that are steps away from buying a home. This is a win/win situation that could bring relief to the suffering real estate market and the individuals involved. Especially those agents that have been hit by reduced sales and hit again by reduced selling prices.
Include durable goods, washers, dryers, stoves and refrigerators in the sale of a number of these homes. These should be American made products so that the money spent stimulates growth in American industries, creating jobs. The bathroom and kitchen fixtures should also be American made.
The materials used, flooring, building supplies, accessories will stimulate the local economy and give a boost to areas businesses hardest hit by this recession.
The stock market loves plans that will put the money in situations that will result in creating jobs.