It's hard to believe that with less than 30 days until the election Rep. Gary Miller has yet to outline ANY housing policy in community gatherings or even on the Issues Page of his website.
You have to understand that the congressman lives and breathes housing: A strong supporter of the MITD (Mortgage Interest Tax Deduction) with no caps for high income earners, he sits on the Insurance, Housing, and Community Opportunity Subcommittee, and hell, he even started a small business in the housing industry.
He loves housing so much you would think he was Paul Bunyan!!! This is in addition to the National Association of Realtors and Mr. Miller's Wall Street allies having dumped $1M+ into his "re-election" campaign.
Inland Empire residents have to ask: What gives?
Here are some of the current options that have been floating around the past 4 years:
Yet, Mr. Miller has not outlined which approach is best for Inland Empire residents or given any alternative approach to housing policy. You would think for a guy who wants his name to be equal to housing, he would state his housing policy pubicly. Has he realized that the market is broken? Or is something more sinister afoot?
Unfortunately, I think Inland Empire residents will be sold short (not pun intended) through backdoor deals with housing developers and Wall Street interests with the residents of the Inland Empire getting a raw deal.
This is not the first time Rep. Gary Miller has sold out Main Street to the benefit of Wall Street and it won't be the last.
You have to understand that the congressman lives and breathes housing: A strong supporter of the MITD (Mortgage Interest Tax Deduction) with no caps for high income earners, he sits on the Insurance, Housing, and Community Opportunity Subcommittee, and hell, he even started a small business in the housing industry.
He loves housing so much you would think he was Paul Bunyan!!! This is in addition to the National Association of Realtors and Mr. Miller's Wall Street allies having dumped $1M+ into his "re-election" campaign.
Inland Empire residents have to ask: What gives?
Here are some of the current options that have been floating around the past 4 years:
1) Eminent Domain (Govt. siezing loans and selling them to private investors.)
2) Bulk Buying (FHFA giving money to private investors).
3) Cramdown (Courts deciding principle/loan reduction).
4) John Husing Plan (Fed. govt. giving local govt. money to buy distressed houses).
5) HAMP (Fed. Govt. giving incentives banks to negoitate with mortgage holders).
6) Loan Modifications (Mortgage holders negotiating directly with Banks).
2) Bulk Buying (FHFA giving money to private investors).
3) Cramdown (Courts deciding principle/loan reduction).
4) John Husing Plan (Fed. govt. giving local govt. money to buy distressed houses).
5) HAMP (Fed. Govt. giving incentives banks to negoitate with mortgage holders).
6) Loan Modifications (Mortgage holders negotiating directly with Banks).
7) Strategic Default (Homeowner walking away from house because mortgage is higher than what the home is worth).
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