Democrats escaped the righteous wrath they deserved for the party’s role in tanking the U.S. housing market. If you want to know the depth of their involvement, read the book that made the left squirm: Reckless Endangerment by New York Times columnist Gretchen Morgenson. If you haven’t read that book, you don’t know beans about the meltdown.
You’d think Dems would forego another attempt after the scorched Earth outcome of their housing policy.
You’d also think Republicans, who took the fall in part because the party backed down when leftwingers attacked conservatives for questioning lending practices, would have wised up as well. Hello, GOP? Where are you?
A rule you probably never heard of is about to potentially affect every middle class and low income neighborhood in the land. Uber-wealthy neighborhoods will naturally be exempt. You don’t get HUD bucks to buy a zillion dollar mansion.
The Dept. of Housing and Urban Development aims to further “fair housing” even as the authors of the rule admit the government’s previous effort “has not been as effective as had been envisioned.”
A key actor in this venture with the government is the racialist group La Raza, recipient of millions in grants funded by federal tax dollars over a number of years and administrations of both parties. As the government preaches equality for all, power brokers are quite happy to designate single groups even if there is no such single group in existence as victims because for one thing, victims feed politics and racialist groups.
Are “hispanics” really one large homogenized bloc? Only in the minds of political strategists, gullible voters, and said racialist groups seeking to increase their own revenue.
Basically HUD is seeking to control the makeup of neighborhoods by controlling federal grant dollars for housing based on page after page of bureaucratic rules. Bear in mind it was the federal government who decimated low income and middle class black neighborhoods and white neighborhoods, and if you don’t believe me, I will take you to the village where I grew up and explain it by simply pointing a finger.
Next time you drive by a multiplex that is in sad state of repair and houses low income residents, remind yourself that multiplex probably is subsidized by federal dollars.
It goes without saying that lending should be a fair process and no one should be denied a right to live in a neighborhood because of his or her ethnicity.
However, for the federal government to utilize a statistical model to determine where we should live and whom we should live around is not a practice that should be tolerated in a free country.
You could save the federal government a lot of money by defunding HUD and issuing block grants to states who would then disperse funding to house people who don’t have homes. Otherwise, leave lending up to the bankers with an emphasis on small community banks who played virtually no role in a meltdown the taxpayer was and will be on the hook for.
The group Americans for Limited Government has a form letter—you can also make personal comments—that you simply sign and email to your senator. If you haven’t used this, it’d be a good idea to do so. It’s a quick way to make your voice heard.
The feds should stay away from the housing market. Their record is one of utter failure with one exception—the political insiders who lost a pile of money on risky lending but got their investment covered by the hard earned dollars of low and middle income workers.
Featured Photo: Snip from new HUD housing rule; Federal Register.
(Commentary by Kay B. Day/July 18, 2014)
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