N. Va. Politicians Have No Faith in Markets
If they did, they wouldn't be planning to waste taxpayer money trying to make the entire public into real-estate bagholders in some of the nations wealthiest communities -- where real estate is insanely overpriced and long overdue for a correction.
The program, championed by Gerald E. Connolly, chairman of the Board of Supervisors and the Democrats' 10th District candidate for Congress, aims to stabilize areas where clusters of homes that have been foreclosed on threaten property values.
Where were these knuckleheads when property values were inflating beyond all reason, setting up the fall and keeping honest, hardworking, frugal citizens out of reasonably price homes? Oh yeah, they were patting themselves on the back for how great they were managing the area economy, and pretending that 20% per year home price appreciation was normal.
Not that it's not happening anymore, they want to throw tens of millions in taxpayer bucks at houses that they determine should be purchased in order to pump real estate values back up? Yeah, I'm sure this will work out just great...
Gerald Connolly, stop with the socialist central planning. You can't keep overpriced homes from getting the correction they need. Live with it.