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by Stan Robinson
Tuesday, Oct. 06, 2009 at 3:38 PM
If Costs Of Forced Private Health Insurance Prevent Home Buyers Qualifying For Home Loans, That Will Hurt Construction and Manufacturing Workers, Financial Institutions And Home Values Dependent On A Stable Housing Market?
Consider how Forced Private Health Insurance Costs might injure the housing market and related industries, like construction, finance and manufacturing.
Sen. Harry Reid’s state, Nevada has the nation’s highest number of foreclosures. Ironically Reid as Senate Majority Leader has the power when bringing together different health-care proposals for a vote, to either help or destroy future home ownership for millions of Americans.
The Current health care proposals mandate Taking 8 to 10 percent of middle class income: that lost income would no longer be available to the middle class to qualify for loans to buy homes or other kinds of property. The costs of government-mandated health insurance may cause many home buyers not to qualify for home mortgages. Nevada already suffering from foreclosures might have its housing market decimated. Nationally more homeowners would have difficulty paying their mortgage and credit cards after government takes 8 to 10 percent of their income for forced health insurance and charged penalties.
Historically, fewer home-buyers, have lowered home selling prices and cause a reduction in property taxes collected by county governments: the current drop in home values and property taxes has forced many county governments to layoff workers and ask federal agencies for money, further increasing federal deficits: that may worsen if home buyers are thwarted by the costs of forced health insurance and penalties.
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