Will the Government LET You Sell YOUR Home?

Posted by courage On September - 26 - 2009

EarthOn June 26, 2009 the House passed the “American Clean Energy and Security Act HR 2454”, on a vote of 219-212.  This bill is more commonly called Cap and Trade. For those unfamiliar with this bill, see CourageToSee’s handout on the issue here. Soon the Senate will be taking up the “Embrace Mother Earth” mantra as they develop their own “environmental justice” legislation to combat the pseudoscience of climate change, which I have previously written about here.

Buried in the kumbaya calls to save Mother Earth are stipulations which should have every homeowner concerned.  From Politico:

The bill contains 397 new regulations. One of them would affect almost everyone who buys or sells a home. If Waxman-Markey becomes law, homes for sale that qualify as “federally related transactions” — which is almost all of them — would be required to undergo an environmental inspection.

Big Brother will be knock, knock, knocking on your door, checking appliances, furnace, A/C unit, windows, insulation and doors, for all intensive purposes every structural aspect of your home.

Inspections are not free. Nor is fixing the inevitable violations. Compliance with new energy-efficiency standards would make homes, especially older ones, more expensive. Selling one’s home would become even harder than it already is in this down market if Waxman-Markey-style cap and trade becomes law.

If this legislation passes, who will be hit hardest?  Answer:  The lower and middle class.

For the middle class, whether they are looking to move up or scale down in their senior years, they may find themselves stuck in a home they can not sell because of the cost of Government imposed environmental standards.  Upgrades in order to sell their home, many run in to the tens of thousands.   The house that once suited their needs has now become a financial liability, with limited choices the middle class homeowner will face two options: 1.) stay in a home they wish they could sell; or 2.) borrow, de-invest to raise capital, empty savings accounts.

The lower income individual/family is really stuck.  Perhaps, wishing to flee an area which they believe to become unsafe or looking to move in to an area which will offer their children better opportunity, they will have NO options according to the Government.  Their income allowed them to buy a home, often in an area that itself is at least semi-depressed economically; they invested in a home that eventually offered an opportunity for them to get ahead.  Now faced with Government regulated standards on energy efficiency and little/if any income to make upgrades, they have been doomed by the Feds.

There are no longer dreams of “moving up or out,” the federal government has institutionalized their position in life.  The Feds have created a barrier, an invisible fence, where the lower income individuals and families are destined to remain.  Whole sections of society will now be fated to stay on “their side of the tracks.”

Those with better incomes, with Ivy League educations and that surround themselves with the nerf world of Washington are safe from this legislation.  While it may apply to them, the cost prohibitive nature of selling their home which affects the average person and is built in to this legislation, will never affect them, they have the power of money and the options which go along with it.

There should be cries of classism, potentially even racism, but those mantras have been tainted, diluted by the very class of individuals seeking to pass this bill.

If your voice is not heard now, then when?

Tell your Senators, NO to Cap and Trade.

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