US Government to Rent Out Foreclosures?
The US government is considering renting out some of their foreclosures. Due to the bad economy, the government has been left with tons of foreclosures, and no way to move them. So, they are considering ways of dumping, or renting out these foreclosures. Take a look at what the New York Times says about it:
The goal, the administration said, is to stabilize neighborhoods where large supplies of empty, foreclosed properties have hurt property values.
This is an unprecedented move by our government. Are we ever going to get out of this recession? Tell me your thoughts below.
You can read more about this story here.
2 Responses to “US Government to Rent Out Foreclosures?”
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Jeffry Evans
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It’s just a move to prolong the agony. I’m sick of hearing about government programs to “stop” foreclosures. Haven’t they realized that much like the Beatles/Jesus controversy, they’re not larger that the market?
The best move the government could make is to simply stay out of the business of doing business.