Posted 5 years ago on Jan. 13, 2012, 1:12 p.m. EST by DKAtoday
from Coon Rapids, MN
This content is user submitted and not an official statement
The thing is.
There are a lot of foreclosed properties.
Properties which the Banks have abandoned after they foreclosed on them.
The Banks don't want to resell these properties, as they can't at current market value. These properties are a glut on the housing market.
To sell these properties. The banks would need to revalue them to a level that could be supported by today's average income. This would cause a revaluing of all properties. They could have done this with the family's they foreclosed-on, they could have revalued to make it possible for those family's to continue in a successful purchase process.
The revaluing would more closely reflect reality of what can be afforded. But this would also cause ( as the Banks see it ) a major loss of profits on their end.
The Banks would prefer to see this abandoned housing torn down, so that they could go back to having a real scarcity of housing to fuel new building at the rates and prices that they want, not at rates and prices that are appropriate and affordable. They can not see that this is not sustainable.
To have the Government claim these abandoned properties and then resell them to people who are working, at prices that they can afford, would help restructure the market towards reality based pricing. It would save wasting good materials that are in good structures and get good family's off the street. It would bolster shrinking neighborhoods and prevent them from losing services because of a dwindling tax base. Services like schools, police, firemen, grocery stores, Hospitals etc. etc.
The proceeds from reselling these properties could be funneled straight back into supporting social services. While advancing the re-balancing of the system.
Petition to sign and share. Save Homes, Save People and save the economy while paying down the National Debt.: http://www.thepetitionsite.com/1/Savingpeople-savinghomes-payingdowntheNationaldeficit/
I am twittering this post.
If "you" like it circulate it as well.
See also 60 minutes episode:
also a thank you from Sen. Bernie Sanders ( please share )
Thank you for signing the petition supporting The Saving American Democracy Amendment. The outpouring of support from you and tens of thousands of others sends a loud and clear message that the American people want to undo the disastrous 5-4 Citizens United Supreme Court decision. We must stop corporations from spending unlimited sums of money, without disclosure, to influence Americans elections. American democracy is not for sale.
Reverse the Citizens United decision.The Constitution is an extraordinary document. It has served our country well for more than two centuries. In my view, however, this is one of those rare times when a constitutional amendment is the only way to save the democracy that our founders created.
Passing a constitutional amendment will not be easy and it will not happen tomorrow. It is a long and difficult process and there will be many bumps along the road. Like other great struggles in our modern history – women's rights, civil rights, environmental protection, etc. – we will need to bring millions of Americans together to demand that Congress and state legislatures represent the needs of ordinary Americans, and not just the wealthy and powerful.
The promise of democracy -- the essential democracy this amendment is directed at protecting – is that the ultimate power in our nation rests with its people, and not with corporations or even elected officials. Our joint effort to defend this nation's democratic electoral process is something that speaks to what being an American is about, and something we should be very proud of.
I hope you ask your friends to sign the petition. And if you aren't already a subscriber to The Bernie Buzz, we'll sign you up for the electronic newsletter to keep you posted on what's happening to the amendment and other news in Washington. (If you do not wish to receive the Bernie Buzz, you may unsubscribe below.)
Sincerely, Bernie U.S. Senator Bernie Sanders
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