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by Stewart A. Alexander
Thursday, Jun. 22, 2006 at 12:12 PM
Stewart Alexander wants to make home ownership available to everyone and he says the way to accomplish this is to offer Home Bank Leasing. His idea is similar to the automobile leasing programs that General Motors and Ford Motor Company began offering in the mid 1990’s. Now Alexander says Home Bank Leasing is the future way to make home ownership affordable and the needed boost for the housing market.
ALEXANDER PROPOSING HOME BANK LEASING
Stewart A. Alexander
California Lieutenant Governor
Peace and Freedom Party
Buying a home is the largest purchase the average consumer will ever make; the next largest purchase is an automobile. Now Stewart Alexander, Candidate for California Lieutenant Governor, is proposing Home Bank Leasing, very similar to leasing in the automobile industry.
Home ownership in California is now excluding most first time buyers and average home prices have soared well above the 0 thousand mark. Buyers, sellers and real estate agents are all frustrated in today’s market.
Stewart Alexander wants to make home ownership available to everyone and he says the way to accomplish this is to offer Home Bank Leasing. His idea is similar to the automobile leasing programs that General Motors and Ford Motor Company began offering in the mid 1990’s.
In the late 80’s and early 90’s automobile sales were in a slump; then General Motors and Ford Motor Company offered leasing programs that were attractive to buyers and provided customers the opportunity to afford the vehicles they desired.
Alexander says, “I believe those programs helped to boost auto sales in the 90’s, it was a win-win-win situation; the buyers, the dealerships and the manufacturers. Buying a car was made affordable and first time buyers were welcomed.”
What Alexander is proposing for the housing market is to offer similar programs; banks and mortgage companies would lease homes to consumers with an option to buy.
The consumer would have the option to lease their home for 10, 15 or 20 years, with certain guarantees arranged at the beginning of the lease. The lease would offer provisions to sell the home and to profit from the equity, or the consumer could refinance the home with conventional financing, or move at the end of the lease.
Banks and mortgage companies would set residual values to determine lease payments and affordability. There would also be various cost reductions similar to the “cap reduction cost” in automobile leases.
Alexander says, “I believe it would be necessary for the state and federal government to establish certain guidelines to prevent further inflation in the housing market. I believe leasing with the option to buy is possible; however inflating cost will eventually make home ownership possible only for the wealthy.”
Stewart Alexander started selling automobiles in 1989 at Peninsula Pontiac and Oldsmobile in Torrance, California, and is presently in automobile sales in Temecula. Alexander has recently proposed plans to boost the American automobile industry, bringing automobile manufacturing back to California, building hydrogen and electric vehicles.
Now Alexander says Home Bank Leasing is the future way to make home ownership affordable and the needed boost for the housing market.
For more information search the Web for Stewart A. Alexander for California Lieutenant Governor.
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