Federal Energy Compliance Audits on Every Home Sale?
housing market
I have written prior posts on the Cap and Trade Bill and it’s effect on the real estate market because of the mandated home energy audit on the sale of any home.
Recently, I have received input from fellow Realtors that the energy audit provision for home sellers was removed from the bill. Good news, but not the whole story. Though the National Association of Realtors was effective at having this legislation removed from the original bill, this effort does NOT prevent the government from instituting audits at a later time, perhaps after Obama’s re-election!
These audits could cost of thousands of dollars to home sellers. Look at the CURRENT provision now in the current bill:
H.R. 2454 Page 350 – Line 13 – The Administrator shall develop and implement standards for a national energy and environmental building retrofit policy for single-family and multifamily residences …. to facilitate the retrofitting of existing buildings across the United States to achieve maximum cost-effective energy efficiency improvements and significant improvements in water use and other environmental attributes ….
Obama’s big mistake … not pushing harder, like on the Tarp bill and getting Congress to approve the bill WITHOUT any law-maker reading a thousand+ page bill!
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The genesis of this meltdown is the outrageous decriminalization of usury by the United States Congress which allowed predatory lending at stratospheric interest rates, and the perversion of the Internal Revenue Code, rewarding layoffs of American workers, outsourcing of their jobs to the cheapest wog-land labor market, and the offshore relocation of fat-cat corporations with little or no tax liability. Home buyers are mostly what are known in the securities business as unsophisticated investors and when they have gotten sucked into adjustable rate mortgages just so they could get a tiny piece of the American Dream, little did they know that this most predictable of economic disasters would be laid mostly upon them. Congress is a club of millionaire whore lobbyists, run by big-money lobbyists. Example of how we’ve been screwed: the infamous Senate Bill 256, which forbids the discharge of medical and credit card debts, condemning its victims to a lifetime of fiscal misery.
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The legal changes Obama is bringing will force a more equitable distribution of wealth AND risk. First, he will rebuild the social safety net, shredded by decades of rightwing mismanagement. Second, the better government regulation will bring more centralized control back over the markets. As time goes on, the federal government will reassert its rightful authority over more sectors of the economy, and we will march together into a brighter future for our children!
Hoodia Gordonii