House passes $15B anti-blight bill - Democratic Underground

Deja Q

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Thu May-08-08 12:21 PM
Original message

House passes $15B anti-blight bill

http://money.cnn.com/2008/05/08/real_estate/antiblight.ap/index.htm?postversion=2008050812

Divided mostly on party lines, so my rambling question would be -- were the same Nay-sayers voting "Nay" to bailing out the overzealous bankers?

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Warpy

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Thu May-08-08 12:56 PM
Response to Original message

1. *I* am not crazy about this bill

because it doesn't contain a provision for doing what is absolutely vital to prevent blight: keep the properties occupied, preferably by the buyers in default.

Renting the properties to them at what their original loan amount was could easily induce many of them to stay and even more of them to avoid trashing the place on the way out of the front door.

Just fixing up unoccupied properties for which there is no market won't work.

Unless those properties are occupied, they'll soon fall victim to vandals and vagrants, followed by vermin.

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Fri May 03rd 2024, 08:15 PM
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