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JSP, real estate czar

By Owen Paine on Tuesday September 12, 2006 12:26 PM

What's it with you folks? I leave a comment worthy of Frank Ramsey himself, and you spoilers pass it by like an Indian trading post?

Of what do I speak? This:

[puts on wonk cap]

The quick donk New Deal way out would be to treat our jobster homes like the first New Deal treated family farms:

"Friends, these homes are America's backbone -- they produce the nation's most sacred crops" -- i.e. all our corporate job hours, in their rich variety of tasks and rates of compensation. To help, (but still reward the dutiful and thrifty), we could nationalize all residential mortgages up to the the market value of each and every Amerikan house lot, and simultaneously issue a stream of lot equity credits usable against a national George tax on ground rent (i.e. on lot value).

Voila, no more private rack-rating, and of course no more borrowing against lot value, and no more lot price elvis-plate or tulip manias either,

Our clever, constantly revalued George tax will effectively render all lots of zero private value.

Hee hee hee, and I'll control it all through a bank of high-speed computers.

Head start: the Gub already owns a big chunk thru Fanny and Fred

So what's your problem, troops? Don't tell me you saw this somewhere else, cause you ain't. This is pure originality, fellow critters. I want my just accolades, or at least a few quibbles!

Comments (6)

J. Alva Scruggs:

I think it would work (save for the computer bank), but the rub is getting it done. Back during the Social Security piratization crusade, I reviewed the wrangling over FDR's tepid reforms. The hysteria was both thick enough to cut with a knife and painfully misdirected. Your plan would be greeted as Mao's second coming.

js paine:

j alva thanx for your thoughtful

even the thumbs downer
shows respect for the scheme
as u agree it could work

like all useful reforms
it points beyond
the orthrian policy fence
for a solution

such stuff causes noses to dump
the rails
of that fence
and starts the mind toward restless thoughts


like its more plain jane
single payer health
(which is a real reform
not agit prop like my mortgage lot nationalization/george tax figment)
these "socializations"
would help "the present system" in many ways

like fdr's SSI reforms
it would prolly add another epoch
to the era of trans nat corporate hegemony

thank god the profit monkeys
have to
to undo
such buttressing stuff
and avoid obviously simple solutions
maybe even
after a major lot value melt down

though then the notion would get a hearing at least

imagine the demonic frenzy
it would evoke
if it started to catch on
even just a little

like the lovely trump tax never did

there's a win win bail out
for millions of underwater home owners
and we know to a near certainty
it as you say would be shown the door
and beat up in the ally
like it was the chairmans avatar

well if all politics is local
it follows you better not
underestimate the ....real estate lobby

J. Alva Scruggs:

Following what you say, then, I think it works just as well as a troublemaking point. Gives a "realist" something against which to triangulate, which possibly loosens some screws for a bit.


JAS -- your phrase "a troublemaking point" crystallized something in my mind. At this stage of the game we can't afford the luxury of being realistic. We have to find troublemaking points. We're not in a position to make policy -- so let's make trouble instead.


Yes, JSP, it's a treat.

We may be poised on the edge of a startling blow to the reigning I-Got-Mine ethos, as it turns into Yessirree-But-The-Bank-Wants-Its-Back. Then the only weal is the bogeyman of populist radio dial conservatism: help from a gub'mint man (and his giant bank of computers--hock ptui!).

The end to this home cannabalism, following hard on the sour end to the stock market higgery-jiggery it was served up to replace, will be an agony for our leaders, mythmakers, mallaholics, account padders, prefab palacemakers, remodeling wallahs, retail kings, smiling loan officers and their furriers.

As I say, this may prove to be Hillary McHomesaver's finest hour as the parties vie to keep the poor dears inside the houses no one can afford: the New McDeal for McMansionland. I see her visiting foreclosure-stricken neighborhoods in Orange County, CA, Bible in one hand, Fannie Mae applications in the other, photo-op'd as the last Humvee is repo'd on to a flatbed and hauled off. Her jowls shake indignantly as she begins to quote from King's Dream speech.

js paine:

more mother Hillary then st hill eh what ???

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