Don't look for real foreclosure help in the Jobs Plan

I just want to say always look at the numbers.  I glanced over this AP article and noticed that Obama, in his new jobs plan, made an apportionment for foreclosures as well.  However, as with all things from Washington, read between the lines and look at the real numbers.  Apparently the Plan includes "$15 billion to refurbish vacant and foreclosed homes or businesses." 

That sounds swell until you do the math.  The Huffington Post currently puts the number of vacant houses at 19 Million. WOW!  And that's only in April 2011 and it only covers vacant residential houses.  That does not include soon to be vacant houses, businesses or simply houses which are in absolute disrepair because the homeowners can't justify putting anything into them while facing a bank who refuses to negotiate.  Yes, there are other numbers but the range is only 600,000

So here comes the math to see just how little Washington appreciates this problem.  I know they are big numbers, but let's spread them out...

$15,000,000,000.00 money to refurbish ÷ 19,000,000 vacant homes = $789.47 per house!  You can't get you house painted for that, let alone repair a roof, put in grass, put up drywall or replace an air conditioner. 

YES, that's right Obama has calculated that it will only take $789.47 per house to get our neighborhoods cleaned up and people working.  Keep in mind this is how much he asked for before congress got to whittle it down.  This somehow smells more like pork for the suburbs of Chicago than a genuine effort to help get our housing market back off the ground.

 

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