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This Housing Plan!
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Professional Poster
Join Date: Apr 2001
Location: Hong Kong
Status:
Offline
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I have an idea for the housing problem. Wanna know what you guys think.
For the "foreclosed" properties, they are pooled together as a special asset class (SAC). An SAC property can not be listed for ownership transfer. i.e. Banks can only lease the SAC properties for rent. The SAC properties will be capitalized. The rent level will be determined by the market. Rent level for non-SAC properties will be negatively affected but the Government will subsidize the rent at certain level to make good. Responsible homeowners not defaulting will get tax relief and future priority to buy SAC properties at a discount.
Benefit:
- immediate supply choke to to stabilize the housing market
- responsible homeowners will remain responsible for the incentives
- the SAC Leasing market will create jobs
- banks can capitalize the foreclosed properties for cashflow, not to have them written off
Let's discuss!
(Last edited by Sealobo; Feb 22, 2009 at 10:18 AM.
(Reason:Spelling & Grammar))
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Clinically Insane
Join Date: Oct 2000
Location: Los Angeles
Status:
Offline
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"The natural progress of things is for liberty to yield and government to gain ground." TJ
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Clinically Insane
Join Date: Jul 2005
Location: Vacation.
Status:
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Government subsidy. Tax relief.
There's two phrases which guarantee it won't work. 
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Been inclined to wander... off the beaten track.
That's where there's thunder... and the wind shouts back.
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Professional Poster
Join Date: Apr 2001
Location: Hong Kong
Status:
Offline
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Originally Posted by Doofy 
Government subsidy. Tax relief.
There's two phrases which guarantee it won't work.
But the government is printing money either way. Something's always gotta give. At least in this scenario, the money ONLY needs to be printed when the plan is working; i.e. the SAC properties being leased and responsible homeowners aren't abusing the government's assistance.
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Professional Poster
Join Date: Apr 2001
Location: Hong Kong
Status:
Offline
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Mac Elite
Join Date: Apr 2003
Location: Hong Kong
Status:
Offline
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Originally Posted by Sealobo
Nice, but i don't use FB.
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Mac Elite
Join Date: Apr 2003
Location: Hong Kong
Status:
Offline
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Originally Posted by Sealobo
I have an idea for the housing problem. Wanna know what you guys think.
For the "foreclosed" properties, they are pooled together as a special asset class (SAC). An SAC property can not be listed for ownership transfer. i.e. Banks can only lease the SAC properties for rent. The SAC properties will be capitalized. The rent level will be determined by the market. Rent level for non-SAC properties will be negatively affected but the Government will subsidize the rent at certain level to make good. Responsible homeowners not defaulting will get tax relief and future priority to buy SAC properties at a discount.
Benefit:
- immediate supply choke to to stabilize the housing market
- responsible homeowners will remain responsible for the incentives
- the SAC Leasing market will create jobs
- banks can capitalize the foreclosed properties for cashflow, not to have them written off
Let's discuss!
Excellent idea, the less wallpaper the presses print the better!
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