Saturday, Nov. 22, 2008

An economic solution

Here's an economic solution: Have the state, the city and Stanislaus County lobby to have a large manufacturing entity right here. The fed can use part of the $700 billion aid package as an incentive for that manufacturing entity to locate here. The jobs created would cause thousands of people and support industries to locate here.

Instead of the government being responsible for home mortgages or owning the homes outright, existing empty homes would be swooped up overnight and drive up existing home values so that people would be able to refinance. This would end the housing crisis in a region that includes three of the top five counties in the nation for foreclosure rates. This pattern could be repeated across the nation, wherever regions are mired in home foreclosures.

ERIC GROSE

Modesto