The NY Times editorial, Government’s Promise, Jan. 20, 2009, complains there is nothing in Obama’s plan to stop foreclosures. Here’s one idea that should be considered: the Federal Government should take over /buy foreclosed houses and RENT them back to the "owners" as subsidized rental property.
One reason for this mess is the shameful lack of affordable housing for hard working Americans. Most working Americans had to borrow and go into debt because their salaries did not go up.
Renting these foreclosed houses back to their owners will:
1) allow Americans to stay in their homes
2) taxes will be paid to hard hit towns
3) neighborhoods will stay intact (not boarded up)
4) working families will have a decent place to live
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