Housing Will Be Defining Issue in Presidential Election
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Interesting tidbit I found reading an article on Republican candidate John McCain changing his position on the foreclosure problem in the country. Political pundits are surmising that as long as we do not have a major terrorist attack, housing will be the dominant issue in the upcoming presidential election.
That should be fairly interesting as it will pit a Republican free market concept versus a Democratic government intervention approach for the American people to decide upon. What scares me is that if the Democratic candidate wins they will be compelled to make changes in how homes are sold in the country with another level of bureaucracy.
“Absent a major act of terrorism, housing will be the major issue of the campaign,” noted Jaret Seiberg, a policy analyst with the Sanford Group in Washington, D.C.
Recalling the famous political maxim ‘It’s the economy, stupid’ that emerged from the 1992 campaign between Bill Clinton and George H. W. Bush, Seiberg said the 2008 maxim might well be “It’s the housing, stupid.”
McCain, according to Seiberg, did his best “to stay true to the conservative perspective on this – ‘you don’t need the government to pick winners and losers, you let the market do that.’ But, unfortunately, to get elected president you need more than just conservative voters. You need the middle class, and the middle class today is very nervous about the state of the housing market.” via Fox News.
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Comment by Chuck on 15 April 2008:
The face of America will soon be changing. After a bit of seesawing the price of oil will continue it’s inexorable rise until life in suburbia, with it’s several-gallon-a-day commutes will make sense only if those distant houses become cheap enough to justify the travel expenses. Suburbia will become the new “trailer park” living where cheapness is it’s main draw. Close-in housing will be in demand while outlying dwellings will go begging. Keeping your house and accepting a long commute after you lose a job will become a thing of the past. Married couples who both have good jobs will go into “weekly commuting using a weeknight crash-pad” mode if the partner can’t change jobs to accomodate the other’s new employment location. We’ll bitch about this suffering due to high gas prices while we watch half the world starve to death so we can convert corn into a little bit more fuel for our hummers. We’ll happily watch the last of the climate protecting rain forests be cut down and burned to make way for the “biofuel revolution. In the medium term we’ll literally kill to preserve the last vestiges of our automobile based lifestyle. We are Americans. We drive. It’s our right.