You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Reply #44: It would probably cost the economy over $2 trillion to renovate them. [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
FarCenter Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-16-10 02:03 PM
Response to Reply #40
44. It would probably cost the economy over $2 trillion to renovate them.
Suppose you renovate about 10 million, for 30,000 each. That's $300,000 billion that the government has to borrow.

However, adding 10 million renovated houses to the market would mean that the prices of the rest of the housing stock would be depressed. So 100 million houses with a price decrease of $20,000 each is another $2 trillion.

So $2.3 trillion total impact to the economy.

(Plus, who's going to make up the lost income of all those real estate agents getting 6-7% on all the sales?)
Printer Friendly | Permalink |  | Top
 

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC