Home Values Decline Under Hope & Change

Home ownership has always been synonymous with participating in the American Dream. Hard working tax payers strive to earn enough money to afford owning their homes and when they do, ownership is a momentous milestone by which success is measured in achieving that dream.

To most Americans to own one’s home isn’t merely a symbol of achievement, it is quite literally a means to build wealth. In fact, most of us depend on the sustained value of our home as a retirement nest egg. When working Americans pay their mortgage, most view the monthly payment as a saving program, an investment for the future. To the vast majority of Americans the home is simply their single largest asset.

Barack Obama came into office on a promise of hope & change. Not only has the housing market not recovered in nearly four years, the negative trend continues unabated putting an unprecedented number of home owners under water. To these Americans hope has turned to despair and the change a nightmare.

In Rhode Island, our governor’s anti business agenda continues to bleed jobs with a predictably deleterious effect on our home values. Rhode Island real-estate values have likewise been hit hard losing an average of 25-30% since the highs of 2006. (see RI housing chart by Zillow.com)

Under President Obama more government debt has been accumulate while more personal wealth has been destroyed in the United States than at anytime in modern American history. Perhaps it shouldn’t come as a shock that under an administration committed to socialistic-progressive policies that our homes would become necessary collateral damage as this administration advances its collective fairness agenda.

We now know that hope & change actually means building bigger government, waging class warfare and imposing even greater redistribution of wealth all paid for by accelerated deficit spending. Government doesn’t build wealth, free people in the private sector do. What this president has created is anathema to the very soul of America, a most hostile environment for free enterprise, the continual loss of personal wealth and the diminished values of personal property. His recent comment, “you didn’t build that…” reveals a troubling hidden belief he had not openly shared. Translation, “You don’t own that…”

A critical basis to American liberty is our private property rights. Obama’s quip exposes how he justifies taking what you might believe is rightfully yours to redistribute to others. It is most alarming that this president clearly does not share our fundamental beliefs in America liberty of which private property rights is a major part. Regardless, facts are stubborn things, no amount of political spin can change the fact that American assets continue to bleed values under the destructive policies of this administration.

President Obama and his progressive partners, including Rhode Island’s own Gov. Chafee, have put our nation and our state on the edge of a fiscal cliff. The bigger they grow government the more destruction they wrought on the private sector. As your assets shrink so too your economic liberty. Unless we reverse course, America will almost certainly continue her economic free fall, even greater debt, more diminished world standing, more suffering and along with that the destruction of our republic. This November, vote for American liberty & prosperity. Let’s fire the big government progressives, reverse course, restore the America of productivity through self reliance. Let’s restore America to a nation where freedom and prosperity will be once again be our children’s future for generations to come.

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2 Comments

Filed under Opinion, Politics & Economics

2 responses to “Home Values Decline Under Hope & Change

  1. Can you give an example of Chafee’s anti-business agenda? Is there a piece of legislation you would write to help RI businesses and homeowners? I think the Tea party has a lot to offer and you have a lot to offer the Tea Party, if you’d put your creativity and laser focus to specific concrete changes.

  2. There are just too many examples of this administration’s failed policies to list. I suggest, if you are curious to go to http://www.rifreedom.org and look at the great work they have done to suggest prosperity initiatives for Rhode Island. It’s not really rocket science. The trouble is, our governor and the general Assembly have no interest in our prosperity because they are in the tank with the unions and are driven by liberal-progressive idiology. They are in denial of the economic state of the state even though they give us plenty of lip service. All the while the citizens of this great state continue to suffer year after year. Chafee was among the first to eagerly adopt and impliment Obamacare which is a giant small business killer. We have record high unemployment with businesses leaving the state yet they keep building even bigger government. Our illegal immigration problem is among the worst in New England yet they turn a blind eye to this issue and rammed down the tax payers’ throat the in-state tuition scholarship program for illegals. Gov. Chafee’s first acts as governor was to reverse a policy of his predecessor to have all public hires be mandated to go through e-Verify. Why, is it to allow illegals to have government jobs? Our emergency rooms are jammed with undocumented aliens who use it as walk-in medical services paid for by tax payers. Our schools are overwhelmed by their children and because of federal law tax payers must foot that bill as well. Meanwhile pension obligations in Rhode Island continue to loom like a storm cloud over our state’s fiscal nightmare, yet the apathy of our lawmakers ignores this pending calamity. Their stance on gay marriage take the headline instead of real substantive issues. Now after more than 70 years of liberal-progressive control of the Democrat Party, the Ocean State is quite literally dangling at the end of a fraying rope. Unless we have real reform and a major change of the entire power structure, I’m afraid the malaise will continue until we become New England’s very own “Detriot”. Have you been to Detroit lately? I have and I am reminded of when I was a child seeing poverty stricken Africa… parts of Detroit looks like that! I can not believe that in the United States of America we have a city like Detroit where a medium single family home in greater Detroit is worth only $7,000. A reminder: Like Rhode Island, Michigan has likewise been under decades of Democrat control and Detroit has had a Democrat Mayor for as long as I can remember (I lived in Mt. Clemens, North of Detroit from 1979 to 1982). It’s time for real change folks but my fellow Rhode Islanders have to wake up first.

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