Dear Bloggers – thanks for stopping by. Raleigh real estate is keeping me quite busy. My days are longer and longer, but they never seem long enough to get to my blog. Today, I will make the time.
The celebration of Independence Day is quite special to me. And I do want to reflect on the current economy and the bill called Cap and Trade just passed.
Cap & Trade continues the long list of assaults against the most perfect form of government ever devised by man. Of course I mean American capitalism. Independence Day seems the perfect time to share my voice and concern about the path of government.
Our heritage of capitalism has allowed more prosperity to thrive in this country than anywhere else in the world. People from around the world still stand in lines to get here, they still steal across boarders in the middle of night and they board shabby vessels to float across to the shores we call home. Yet our own country is divided.
The current Cap and Trade bill has many negative aspects for the real estate industry. The bill, if passed, provides that homes sold submit to an “ECO test” to determine any environmental and energy inefficiencies. Each home would receive a rating before the home can be sold. This would bring more havoc to our real estate industry. Regulations have consequences as do elections.
Among the other hidden factors in this bill is a new direct deposit transfer of wealth that would go to anyone earning up to 150% of the poverty level in the US. Poverty level is 10k for a single person and up to 24k for a family of 4. Americans that qualify would receive cash back for the coming rise in energy costs. More welfare.
Real estate values are down. In our area, we are very fortunate indeed. While the number of sales is lower this year, our home values are stable with the exception of higher priced homes and certain areas that harbor high foreclosure activity. E-mail me directly for information about foreclosures and short sales at marti@MartiHampton.com
Our form of government has 233 years of evidence that it works far better for life, liberty and the pursuit of happiness than any other in the world. But now, economic growth is negative and unemployment is in double digits.
Instead of bailing out mortgage companies, our government could have opened up the small, private investor market and spurred growth in the housing sector by giving tax incentives to all buyers, including investment buyers. The 80’s were alive with the small investors investing in rental houses. This act alone would have drastically reduced the harm that bail outs and stimulus packages continue to have on the housing market and economy in general. There is one reason our government chose not to do this. It was not because it doesn’t work – it’s been proved to work! The reason your elected congressmen and representatives chose NOT to vote for tax incentives is that it would have given power back to American people to begin taking control of our economy again. It’s that simple. We have to face the fact that the monster government we’ve elected prefers us all sitting on the edge of our seat waiting for their next demolition move to our economy.
If I sound a bit pessimistic about our current path, you’ve accessed my position correctly. I believe and want the best for every American; I don’t look at people and see victims. I see those that are exceptional. We have the ability to be our best – or our worst, because we have FREEDOM. Our freedom gives us the possibility of risk and the reward of that risk is both failure and success. Thank God for that freedom. The thought that some should not have more than others has fueled a movement to try to equalize all Americans. I do not agree with equally divided misery, equally divided mediocrity, or the illusion of equality divided security! The beauty of America is that everyone can be better than we think we can be. Government just needs to get out of the way.
This is not exactly the kind of blog you write if you are seeking business. So if you disagree with me, I hope you’ll forgive me for indulging in my own opinion on the occasion of Independence Day. God bless you and yours and God Bless America.