As some politicians see it, where you live is now a matter of national energy policy. Places with plenty of mass transit and high rates of bicycle usage have received applause from presumptive Democratic presidential nominee Barack Obama on the campaign trail lately. And some on Capitol Hill want to legislate shorter commutes that require less fuel.H/T Commuter Page Blog
Congressman Ed Perlmutter (D-Colo.) recently introduced a bill that would enable home buyers to qualify for lower interest rates on mortgages for homes located near mass transit. Although it isn't expected to get to a floor vote before November elections, it has an ally in powerful House Financial Services Committee Chairman Barney Frank (D-Mass.).
Monday, July 7, 2008
A Little West of the Mission
Is where I live. But that's close enough right? With the J just a half block away, the grocery store a half mile away and BART a half mile the other way, what's not to like? Apparently Forbes thinks so as well. The interesting thing though is this:
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I have an idea! How about the federal government gets out of the business of building suburbs? Their giant and, in retrospect, terribly misplaced subsidies got us into this mess, and what's to say that more of them will get us out? Just abolish the mortgage interest tax credit (or institute one for rent payments, I suppose), and suddenly the financial advantage of owning a house in the suburbs versus renting an apartment in the city is gone, and the balance shifts more to cities.
this already exists although isn't available in all areas. Do a websearch on "location efficient mortgage." It was piloted maybe 5 or 6 years ago by www.cnt.org
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