Hillary Clinton’s Plan To Help The Housing Crisis
Hillary Clinton’s Plan To Help The Housing Crisis — by Catherine Morgan (cross-posted at Care2 Election Blog)
Hillary Clinton unveils 4-step plan to help homeowners. Now is the time to help struggling people.
This is from an article in Business Week…
Even though her proposals would involve tens of billions in government spending, Clinton moved to head off anticipated charges that such measures would constitute a bailout. “To those who object to our government helping middle-class and low-income families devastated by the housing crisis, I say this: We’ve given Bear Stearns a $30 billion lifeline, we’ve given their creditors, their lenders, their customers, and those associated with them the same lifeline,” she said. “How can you tell a family about to lose their home that there’s nothing we can do to help them?”
I think this is a great plan, and it would be much better for the housing market to help people not go into foreclosure. Not only does foreclosure hurt the family that is made homeless, but it hurts the whole neighborhood, by bringing down home values for everyone.
I personally know more than one family who have been struggling for years to pay their mortgages, and now find themselves facing possible foreclosure. These families have already made huge sacrifices to keep paying their mortgages, in hopes to someday have at least a small nest-egg in their homes. But now those homes aren’t even worth what paid for them, and even if they were able to sell their homes (and many can’t even do that), they would lose money. On top of everything else, the cost to heat these homes has skyrocketed, and so has gas, food, healthcare, and just about everything else. Finances have gotten so bad, that these people feel the only solution is to walk away from their homes and their mortgages.
We need to find a way to help people who (up until now) have been struggling each month paying their mortgages, but who now feel their only option is to abandon their American Dream. We need to find a way to throw these families some sort of life-raft and help them get through this crisis with their dignity and hopefully their homes. More foreclosures, more abandoned homes, and more homeless families is only going to prolong this housing crisis.
And the problems facing the middle-class is not limited to the housing crisis. Rising healthcare cost are seriously hurting many families…
This is from The Washington Post…
Recent history has not been kind to working-class Americans, who were down on the economy long before the word recession was uttered.
The main reason: spiraling health-care costs have been whacking away at their wages. Even though workers are producing more, inflation-adjusted median family income has dipped 2.6 percent — or nearly $1,000 annually since 2000.
There is no doubt that we are facing serious economic problems in this county. Since stopping this economic crisis is obviously not going to happen, we need to find the best way to get through it…and it shouldn’t be every man for himself. The more we collectively help Americans that need help, the fast are economy will recover from this crisis. The longterm costs of not helping these families, could end up being even more devastating to our economy.
What do you think?
