- The Washington Times - Friday, February 20, 2009



What strikes me in all the stimulus packages is that many are “house-centered” and the emphasis is not really on putting people first. The Obama administration’s proposals will only encourage, at best, “musical residences,” with the taxpayer substituting for a bank or a mortgage company in subsidizing what inevitably will become more defaults just a year from now. The defaults will be generated by those who are encouraged to trade up or somehow stay in homes they never should have been allowed to buy in the first place.

The focus should be on affordable housing, not making an existing, overbuilt situation more affordable, a crucial distinction. As unpopular as this is to say, perhaps thinking and efforts should concentrate on leveling, recycling or rededicating current inventory instead of clinging to an outmoded and unrealistic American dream. The best chance for an economic recovery may lie in chucking the existing system and the models built upon it - a much simpler fix than voluminous legislation and complicated bureaucratic organizational charts. A destroy solution rather than a patch-it-up one would effect real, lasting, worthwhile and revolutionary change. Put people before palaces; subscribe to “less is more” and realize that housing is not always, nor should it be, a house.



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