Self serving real estate lobbyist, inflated home values, poor loan qualification guidelines, sloppy underwriting… “Laissez Les Bon Temps Roulez" that was the mantra from 1998-2007.
Now we see the fruit of our labor - foreclosures, depressed markets, few sales, scared buyers more and more assets held by fewer and fewer people.
How do we stop the madness? First tell the Federal Government, “get the HELL out of our business and ALL business.”
S-L-O-W-L-Y eliminate all the crony capitalism, stop the subsidies, stop the tax write offs, eliminate the mortgage interest deduction, eliminate the real estate tax deduction, stop, stop, stop all artificial government subsidies that artificially inflate the cost of real estate.
Call your congressmen, call your local association executives, call your state association and any official you know. Tell them more subsidies more favoritism are NOT the answer.
We may have to suffer a little pain now to avoid a catastrophe later. 20 years from now we should have eliminated all subsidies on real estate and then we will see the true value.
Who is John Galt?
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