Thursday, October 27, 2011

Home Alone: Update on the Homestead Act

Everyone knows that housing was the epicenter of the previous recession and that it is the biggest drag on the recovery. President Barack Obama wants to help by allowing homeowners to refinance their mortgages at record low interest rates even if the values of their homes have fallen below the amounts they owe.

The majority of the FOMC wants to help too. That’s why they voted to implement Operation Twist at their meeting on September 20-21, despite the objections of three cold-hearted dissenters. Last week and early this week, three of the do-gooders on the FOMC said they are ready to do more good and are considering a third round of quantitative easing that would include purchasing mortgage-backed securities again.

I don’t understand why no one in Washington is pushing for more targeted policies that would simply reduce the huge overhang of unsold homes. Doing so would take the downward pressure off of home prices. Actually, it should boost home prices by convincing would-be homebuyers to stop waiting for better deals and jump in and buy a house.

That’s the objective of the Homestead Act that Carl Goldsmith and I proposed this past summer. It would provide a matching down payment subsidy of up to $20,000 for anyone purchasing a home as their principal residence for two million houses. It would provide tax-free rental income for 10 years to anyone who purchases a house to rent for another one million houses. That would eliminate the current overhang of unsold homes completely.

Carl and I reached out to various political leaders in Washington on both sides of the aisle. Congressman Gary Ackerman liked the idea well enough to instruct his staff to work on a bill. The problem is that our plan would lower the corporate tax rate on repatriated earnings to 10%, using the proceeds to pay for the subsidy. The Congressional Budget Office scores these tax revenues as though they will be raised at the 35% tax rate even though such a high rate has been a major obstacle for such repatriation. So, we’ve hit a road block, though we are still pushing for the plan as best we can.

64 comments:

  1. The information you have posted is very useful. The sites you have referred was good. Thanks for sharing
    webnovel

    ReplyDelete
    Replies
    1. The "Home Alone: Update on the Homestead Act" reflects on property ownership and self-sufficiency, similar to managing your own routes in Bus Simulator Ultimate
      . The Mod APK allows players to take full control of their bus business by providing unlimited money and unlocked features, giving them the freedom to expand and customize their fleet without constraints, much like the independence granted by the Homestead Act.

      Delete
  2. Thanks for sharing such a good article. Lincoln signs Homestead Act. On this day in 1862, President Abraham Lincoln signs the Homestead Act, which opens government-owned land to small family farmers (“homesteaders”). ... If a homesteader quit or failed to make a go of farming, his or her land reverted back to the government and was offered to the public again.

    You may check out this website: best Ias coaching chandigarh

    ReplyDelete
  3. -Things are very open and intensely clear explanation of issues. was truly information. Your website is very beneficial.

    gmail login

    ReplyDelete
  4. How come no one ever points out how ridiculous the arguments presented here are? they are like half-hatched eggs with no relevant content whatsoever. But I entertained myself with the nice theme. SB Nation

    ReplyDelete
  5. Thanks for sharing such great information with us. Your Post is very helpful and information is reliable for new readers. Keep Thanks again for sharing such a useful post!!
    Insurance Quote usaa

    ReplyDelete
  6. Best Casino Sites & Casino Apps in Pennsylvania
    Pennsylvania 경상북도 출장마사지 is home to over 경상북도 출장마사지 300,000 licensed and regulated 경상북도 출장마사지 online gambling platforms, with more 안산 출장안마 than 400,000 games 논산 출장안마 and 150,000 progressive jackpots,

    ReplyDelete
  7. Both iOS version and Android Version of Clear IAS mobile app are absolutely FREE. Our goal is to provide a complete package for UPSC Coaching in Vadodara preparation by providing free guidance, study materials and mock-tests.

    ReplyDelete
  8. When there is still a given term paper, before which you need to spend time, I can’t get carried away with something else, using this site https://rankmywriter.com/essaypro-com-review you can order high-quality and fast written work at a small price

    ReplyDelete
  9. “Can you write my research paper for me free?” We can help you at a reasonable price. If you’re having order an essay online trouble getting started with your piece, an assistant on this platform will prove helpful. They can create an outline for you for free and offer tons of advice to get you moving.

    ReplyDelete
  10. Wow Amazing content
    you should also know about Mama Vergi

    ReplyDelete
  11. This comment has been removed by the author.

    ReplyDelete
  12. Wonderful blog its very useful for many people and any one want legal advise for you kindly visit our site thanks. Traffic Lawyer Alleghany VA

    ReplyDelete
  13. This comment has been removed by the author.

    ReplyDelete
  14. Our Oracle 1z0-1035-22 practice test is the most reliable solution to quickly prepare for your Oracle Designing Oracle Azure Infrastructure Solutions. We are certain that our Oracle 1z0-1035-22 practice exam will guide you to get certified on the first try. Here is how we serve you to prepare successfully.
    1z0-1035-22 Exam questions

    ReplyDelete
  15. Preparing for the Salesforce-Loyalty-Management is a mentally draining process but this course makes it easier. All the relevant material is provided which helps to ensure good results. I got 90% on the test.

    ReplyDelete
  16. I can't help but be impressed by the quality of your blog about * . Your dedication to delivering valuable insights is evident in every post. I look forward to each update, grateful for the knowledge and inspiration you consistently provide. Kudos to you! Reckless Driving Attorney In New Jersey Dismiss Order Of Protection New Jersey

    ReplyDelete
  17. This comment has been removed by the author.

    ReplyDelete
  18. Explore the modern-day homestead with a Home Alone twist: an update on the Homestead Act. Navigating the complexities echoes the need for adept caregiving, synonymous with care certificate standard 5 answers. Secure your knowledge and your homestead, blending historical insights with contemporary responsibilities for a well-rounded understanding.

    ReplyDelete
  19. This blog is so interesting and informative. keep sharing
    abogado de divorcio en virginia

    ReplyDelete
  20. There are many good projects geometry dash proposed, but whether they are implemented or not is another big issue

    ReplyDelete
  21. While the Homestead Act played a crucial role in the settlement of the American West and the bitlife expansion of agriculture in the United States, it became obsolete as the frontier closed and land became increasingly scarce.

    ReplyDelete
  22. A reckless driving lawyer will use their in-depth knowledge of local traffic laws and experience in similar cases to design an effective legal strategy. This may include negotiations with prosecutors to seek a reduction of charges, present evidence in your defense, or represent you in court if necessary. Abogado conducción imprudente Botetourt VA

    ReplyDelete
  23. Incorporating cool math games into your daily learning can make education a delightful part of your everyday routine, proving that learning can be as entertaining as it is educational.

    ReplyDelete
  24. If you require Project Management Assignment Writing service, that's wonderful to hear. It's a valuable academic service for anyone needing assistance with assignments or other academic challenges.

    ReplyDelete
  25. Housing Friday Night Funkin problems remain unresolved. This has led to other, worse consequences

    ReplyDelete
  26. Word hurdle is a word game based on the famous game Wordle. As with the original edition, which is currently owned by the New York Times, the goal is to locate the hidden 5-letter word by elimination.

    ReplyDelete
  27. I am truly impressed with the creativity fnaf and vision of the Homestead Act. It is a practical and effective solution to address the housing shortage, help stabilize and boost home prices, and make it easier for first-time homebuyers.

    ReplyDelete
  28. This comment has been removed by the author.

    ReplyDelete
  29. We also provide HND assignment writing service that guides the students to score good grades. In helping the students with our competent staff, any assignment challenge becomes conquerable thus enhancing on the studies.

    ReplyDelete
  30. Geometry Dash Breeze is the newest hit in the well-known Geometry Dash series. It will take you on a captivating journey through the bright worlds of music and art.

    ReplyDelete
  31. Games often involve taking risks to snake io achieve goals, encouraging players to assess situations and take calculated risks in a safe environment.

    ReplyDelete
  32. Accounting Assignment Help services are a game-changer for students. They provide expert guidance, ensuring complex concepts are clearly understood and assignments are completed with precision. With professional support, students can achieve higher grades, manage their time effectively, and reduce stress, making it a valuable resource for academic.

    ReplyDelete
  33. Using pals worldwide, play Skribbl IO online for free. Participate in guessing other players' keywords or drawing the selected word.

    ReplyDelete
  34. Papa's Pizzeria has been a staple in the time-management genre for years, and for good reason. The game offers a simple yet addictive gameplay loop that has kept me entertained for countless hours.

    ReplyDelete
  35. Assignmenthelp.co.za is the best provider of accounting assignment help to all South African students in South Africa.

    ReplyDelete
  36. AssignmenthelpSingapore.sg is the best company to provide essay writing service to all Singaporean students in Singapore.

    ReplyDelete
  37. The Act aims to boost the housing market by providing subsidies and tax incentives for home buyers and renters. As in io games taking advantage of flexible tactics and responses can help us achieve our goals quickly.

    ReplyDelete
  38. The discussion of US Treasury outlays and receipts emphasizes the issues created by federal deficits and rising debt, which are not positive for the stock market. With deadlock and uncertainty looming, particularly given the election results, the economic outlook remains dismal. It's like attempting to put together a dissertation contents page that continues growing without a clear direction.

    ReplyDelete
  39. The Homestead Act update shows President Obama supporting homeowners by enabling mortgage refinancing at record low rates, despite home value declines. The FOMC's Operation Twist aims to support recovery, though some dissent. Monkey Mart’s strategic insight might reveal how such financial measures impact the market.

    ReplyDelete
  40. Having worked closely with numerous students as an Assignment Helper, I have witnessed the significant impact of dedicated support services. Business assignment help stands out by providing not only assignment solutions but also fostering a deeper understanding of the subject matter. This comprehensive approach ensures that students do not just complete their assignments but also gain the knowledge and skills necessary for future success. By addressing individual learning needs and offering practical examples, this service enhances the overall educational experience.

    ReplyDelete
  41. Reckless driving in Virginia is considered a serious traffic offense, classified as a Class 1 misdemeanor. It carries severe penalties, including fines, potential jail time, loss of driving privileges, and a permanent criminal record. If you’re considering pleading guilty to reckless driving, it’s essential to understand the potential consequences and explore all your legal options. pleading guilty to reckless driving in virginia

    ReplyDelete
  42. Home alone updates on the homestead act is the best and provide us the right solution. It is good for the users who want to get more and more ideas or the right solution. Also, when I used the his comment is here I saw people need to get more and more solutions that bring what we need.

    ReplyDelete
  43. A pleasant and interesting music game, incredibox sprunki allows users to easily and enjoyable enter the realm of music composition.

    ReplyDelete
  44. Funny holiday T-shirts are a fantastic way to bring laughter and joy to seasonal celebrations, whether it’s Christmas or Halloween. A shirt that says "I Put The HO In Holidays" delivers a playful and cheeky twist on the festive spirit, making it a great choice for holiday parties and gatherings. On the Halloween side, “Ch Ch Ch Meow Meow Meow” combines a clever play on the famous horror movie with a fun feline twist, making it perfect for cat lovers and Halloween enthusiasts alike. These humorous designs not only brighten up your wardrobe but also serve as icebreakers, ensuring you share smiles and good vibes wherever you go. Embracing the lighter side of the seasons, these funny Christmas t-shirts add a unique flair that keeps the festivities fun and memorable!

    ReplyDelete
  45. Gaming can enhance bitlife 2 social skills. Multiplayer games provide opportunities for players to communicate and collaborate, which can improve their social abilities and confidence in interacting with others.

    ReplyDelete
  46. The housing market has historically played a significant role in economic cycles, often serving as both a Geometry Dash Lite trigger for recessions and a hurdle in recovery.

    ReplyDelete
  47. CertsTopics offers comprehensive practice exams for the Salesforce Data Architect certification, designed to help candidates prepare effectively. These Data-Architect Salesforce Practice Exams feature a wide range of questions that closely mimic the actual exam format, covering essential topics such as data modeling, data governance, and data integration. Each exam includes detailed explanations for correct answers, allowing users to understand their mistakes and reinforce their knowledge. With a user-friendly interface and instant access, CertsTopics ensures that candidates can study at their own pace, enhancing their confidence and readiness for the certification exam.

    ReplyDelete
  48. Very unique and reliable blog. Thanks for sharing your valuable thoughts with us.
    jewelry cleaning

    ReplyDelete
  49. In a climate where housing stagnation undermines recovery, innovative policies like the proposed Homestead Act might breathe life into the market. By offering significant down payment subsidies and tax incentives, potential homeowners could be encouraged to buy, reducing the oversupply of unsold homes. However, political hurdles, like tax rate discrepancies, remain a challenge. It’s like waiting for responses on Omegle; sometimes, solutions take time to arrive.

    ReplyDelete
  50. I loved how you used real-life examples to explain the topic. It really brought it to life.

    accounting companies

    ReplyDelete
  51. I’m impressed by the depth of research in this post. Clearly, a lot of effort went into it.

    business financial advisory fort worth tx

    ReplyDelete
  52. This plan emphasizes demand stimulation through financial incentives, which theoretically could raise housing prices by reducing unsold ragdoll hit inventory, encouraging hesitant buyers, and stabilizing the market.

    ReplyDelete
  53. The Homestead Act played a crucial role in shaping land ownership in the past. Today, resources like abcya make learning about history engaging for kids, combining education and fun effectively.

    ReplyDelete
  54. Despite support from some lawmakers, challenges remain in funding the initiative due to tax rate complications. Meanwhile, if you're looking for an exciting escape, try geometry dash! This game offers thrilling snowboarding adventures, perfect for a quick break from serious topics.

    ReplyDelete
  55. The housing market remains a significant hurdle to recovery, similar to navigating the Dinosaur Game when you face obstacles. President Obama’s refinancing initiative and the FOMC’s Operation Twist aim to alleviate this issue, yet targeted policies to reduce unsold homes are lacking. The proposed Homestead Act could stimulate the market by offering subsidies and tax incentives, but political challenges persist, blocking progress. Let’s hope for a breakthrough soon!

    ReplyDelete
  56. The political and budgetary barriers are substantial, but the plan's focus on revitalizing the housing market retro bowl from the ground up rather than relying solely on macroeconomic measures like Operation Twist or quantitative easing is an innovative approach worth pursuing further.

    ReplyDelete
  57. Webfishing captivating gameplay and focus on social connection have helped it swiftly gain popularity as a fishing game. The multiplayer aspect of the game, which allows you to go fishing with buddies, is one of its excellent aspects.

    ReplyDelete
  58. The heavy equipment auction in Texas is vibrant and dynamic, attracting a wide array of participants from contractors to individual buyers seeking to expand their operational capabilities. These events not only allow for the acquisition of machinery at potentially lower costs compared to traditional retail channels but also enable sellers to reach a broader audience, maximizing their chances of a successful sale.

    Additionally, many auctions offer online bidding options, making it easier for remote participants to engage in the process. Overall, heavy equipment auctions in Texas serve as a vital marketplace, driving economic activity and supporting the growth of various sectors reliant on heavy machinery.

    ReplyDelete
  59. Thanks for sharing such a nice Timeguessr article, Your post is very helpful and reliable information for new readers. Keep it up Thanks again for sharing such a helpful post!!

    ReplyDelete
  60. further hydrate and plumps the skin while stimulating collagen and elastin production. Microneedling Newcastle upon Tyne

    ReplyDelete