Friday, July 17, 2009

Smokey the Mortgage Broker

If you live in an area prone to fires like Southern California or Central Oregon you've probably heard the term 'prescribed burning' or 'planned burning'. Basically, it's the practice of setting smaller fires in perfectly good forests or letting naturally occurring fires burn without interference. The theory is that this will keep the "fuel" from getting too thick which can lead to fires that are harder to put out and much more catastrophic in the long run.

Personally, I think it makes sense. More importantly, I think this same practice just might be what we need to rescue the housing market in the United States and get the economy back on track.

Here's my proposal. I call it 'Operation Smokey Freedom'. The government needs to go into certain overbuilt areas and start burning a set amount of the new homes (aka undergrowth) that were overbuilt during the last 10 years. This would help reduce the inventory and get the prices (trees) growing again. Employment would rise as construction workers would be needed again to build new homes and that would help all the retailers who depend on the construction industry. And people wouldn't have to look at all those empty houses with price reduced signs on them. So write you Senator or Congressman and let them know you support this idea.

And remember, 'Only You Can Prevent Mortgage Meltdowns.'

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