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Peter Orszag suggests a government incentive for renting could aid a housing recovery right...

Peter Orszag suggests a government incentive for renting could aid a housing recovery right now: Attack the oversupply of housing stock by allowing a tax write-off for investors who buy empty properties and rent them out. No matter what, "the deleveraging process will still be painful and take some time. But that’s not an argument against action."
Comments (7)
  • JohnBinTN
    , contributor
    Comments (3816) | Send Message
    Yes, let's create a bunch of investor slumlords. Rental properties can lower a localities general property value more than vacant houses.
    5 Oct 2011, 05:40 PM Reply Like
  • User 487974
    , contributor
    Comments (1105) | Send Message
    Hey Scumbag, you have no credibility with regard to anything free loving people should care about!
    You have some set of balls pal.
    You just went on record a few days ago as basically saying congress is irrelevant and "We should just put in place some more super committees to get things done!"
    Excuse me! What you are talking about is called communism!
    I don't know about you, but I don't want this administration to be doing any more sh** leaning towards communism than they already are.
    Fu** the super committees, they are not part of the constitutional process. Who the hell cares what they say? They do not make / write policy!
    We have to be careful America, this communist and his former white house bosses are now trying to circumvent congress and do as they see fit!
    This should be an alarm bell going off all over the country! Instead we have another self described communist, Van Jones leading the "Day of Rage" against capitalism on wall street!
    This is not the way a law abiding, civilized society functions. The domestic economy and the society as we knew it are breaking down.
    Wake the frack up America, the end of our freedom and liberty are right around the corner. Stand up against this massive onslaught by the progressives / socialists and communists!
    America is great because Americans are good!
    America is EXCEPTIONAL!
    Yes we are a proud people, we want our way of life back!
    Not some fracking bullsh** "Radical Transformation" against the societal norms of the past 200 years!
    When right becomes wrong, and wrong becomes right, we need to get back to God and faith in each other. This will not end well. Look inward, be ready to help each other. It's all about you, the individual! Not some God forsaken "COLLECTIVE SALVATION!" The progressives are counting on you to break down under this constant assault. We are better than that. Darkness never wins over the light!
    Good always vanquishes evil. And make no mistake, evil is alive and well today!
    May the good lord watch over this fragile little experiment in freedom we call America


    Rebellion to tyrants is obedience to God
    How many of us know the significance of that saying?


    God Bless The Virtuous
    5 Oct 2011, 05:41 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3531) | Send Message
    "Currently, people who purchase residential real estate depreciate the value of the property for tax purposes over 27.5 years. ... So Congress could give investors the incentive to buy vacant houses now by allowing them to write off the value immediately, as long as they hold on to the properties for some number of years and rent them out."


    They would stick something in the final law to allow disposition of the properties without penalty in case of 'emergency'. And the lawyers would find a way to qualify anyone who wants to walk away (after getting their cost out) as an emergency.


    If you want to amend this idea to work, have the government give control over the properties to the city or county where they are located. Local elected officials could tailor plans in each area to get the homes occupied responsibly either by renters or installment buyers.
    5 Oct 2011, 06:41 PM Reply Like
  • JohnBinTN
    , contributor
    Comments (3816) | Send Message
    So, basically government housing projects wrapped in the guise of individual houses.... Nah, no thanks. Not in my backyard, please.
    5 Oct 2011, 06:44 PM Reply Like
  • davidbdc
    , contributor
    Comments (3165) | Send Message
    Good grief! Just what we need ... MORE government involvement in housing!! NOT!


    Where do they find these people. THis guy is a clown - he didn't have any backbone when he was actually in government and took all the known lies and gimicks on the health care legislation and with a straight face said it would reduce the deficit - when we all know that payments to doctors have never been reduced and won't be reduced in the manner it was being sold.... and this lackey sat and stated the party line.


    Now he wants to involve himself in housing!!!


    How about we force the banks to sell the houses for WHATEVER THE MARKET WILL BEAR!!! No more, No less. Let average ordinary RESPONSIBLE people buy the houses on the open market through open transparent auctions.... that is the only way to have housing start to rebound - let it hit bottom!


    Government Bureaucrat Idiots.
    5 Oct 2011, 06:52 PM Reply Like
  • yoguh12
    , contributor
    Comments (76) | Send Message
    sounds a bit like a twist of the buy a home now and get 7500 tax credit!
    5 Oct 2011, 07:37 PM Reply Like
  • tjohn1
    , contributor
    Comments (152) | Send Message
    Has this fellow become a lobbyist for tax writeoffs? He barely left his government job. Does not he know all these writeoffs add to deficit when we have a huge deficit and huge national debt?. Has he already sold his soul to big money?
    5 Oct 2011, 07:54 PM Reply Like
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