High housing prices hurt people.
Further there are plenty of people out there that want to buy houses. And many of these people are the young people that supported Obama. And these people are locked out of the housing market because of ridiculous prices.
There is nothing progressive or liberal about keeping housing prices high.
And it hurts the hell out of poor people.
Your house is not an investment to send your kids to college nor is it a replacement for your retirement savings.
People that lose their home to foreclosure can rent. And the worst thing that can happen to anyone facing foreclosure because of a loss of a job is high housing prices because high housing prices and high rents go hand in hand.
Instead of throwing tens of billions of federal dollars at the real estate industry and their lobbyists, these billions would be much better spent on direct aid to the unemployed. This plan to levitate housing prices will not work and we all pay for this at the grocery store in the form of inflation and higher food prices.
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