I definitely agree with the author that something major needs to be done to address the housing debacle in its entirety but that my friends, means coming up against the big banks and so far we have been on the losing side of that equation. Until their role in this whole mess is addressed as a criminally fraudulent enterprise and that they have a fiduciary duty to pay restitutio­n to the tax payers in the form of fixing the bubble they burst, we are not going to see much in terms of properly fixing the housing situation. On the other side of the constructi­on industry, the commercial part, until unemployme­nt is fixed and demand goes up businesses will not expand or even renovate. So that leaves us with two issues to address immediatel­y, radically modifying the underwater mortgages out there and doing something creative with the foreclosed homes and beating down those unemployme­nt numbers to get commerce going again.
Read the Article at HuffingtonPost