Friday October 16, 2009
As many of you know, our country has been in a massive recession for about 3 years now. Housing has played a large role in the down turn being one of the main employers with every transaction employing from just a few people in a re-sale transaction to an entire army of people in all salary ranges when building a home. People affected range from simple unskilled labor to attorneys, lenders, and title companies.
Interestingly enough the current stimulus bill, about to expire, has not significantly improved the conditions in the housing market.
Why? Theoretically speaking, each first time home buyer entering the market will stimulate 3-5 transactions as people move into new housing. Unfortunately, current estimates say that 30-40% of all homes sold through the stimulus program have be foreclosures or short sales in which the seller has not moved up in housing, but down into rentals.
Knowing how many people are affected in the industry, and how many are employed through housing, it would make sense to put a stimulus proposal together that would improve the market condition that would stimulate the entire economy, not just unload foreclosed properties from the banks.
As you may know, things are moving on the homebuyer tax credit and now it appears that there may be a vote on it as early as next week in the US Senate. We’re not sure what that bill will look like just yet — there are lots of bills, proposals and rumors swirling about. As soon as we know what we have, we will get back to you (on short notice) with an urgent request to weigh in with your two Senators.
In preparation for next week, we need your help now to build our army. Some 50,000 people have taken action through the Fix Housing First website, a testament to how important the tax credit has been to you and to the economy. But we need more. We need supporters ready and in place for next week’s push.
With that in mind, we are asking you to please send this “Join Fix Housing First” link to your friends, neighbors, employees, suppliers, customers, family, etc. Send it to your Outlook contacts. If you’re on Facebook, post the link there and urge people to join. That way, we’ll have more people in our army when the time comes next week. If you want, you can just forward this email with this link:
Thank you! Watch for our call to action next week.”