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December 2, 2014

Jonathan Tobin: Defending the Right to a Jewish State

Heather Hale: Compliment your kids without giving them big heads

Megan Shauri: 10 ways you are ruining your own happiness

Carolyn Bigda: 8 Best Dividend Stocks for 2015

Kiplinger's Personal Finance editors: 7 Things You Didn't Know About Paying Off Student Loans

Samantha Olson: The Crucial Mistake 55% Of Parents Are Making At Their Baby's Bedtime

Densie Well, Ph.D., R.D. Open your eyes to yellow vegetables

The Kosher Gourmet by Megan Gordon With its colorful cache of purples and oranges and reds, COLLARD GREEN SLAW is a marvelous mood booster --- not to mention just downright delish
April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review August 26, 2011 / 26 Menachem-Av, 5771

How to Fix the Housing Depression

By Linda Chavez



http://www.JewishWorldReview.com | As the president contemplates his options for creating jobs and stimulating the economy, here's one idea he should consider: Create a new immigration lottery that would let in up to a million newcomers — on the condition that they immediately purchase a home with cash.

I know this idea is bound to infuriate some people, but it could do more to stimulate the economy than anything the Obama administration — or the Republicans — have come up with so far. There's no question that the depressed housing market is a major factor stalling the economic recovery. Most Americans' wealth is tied up in their homes; housing prices have continued to fall precipitously, and largely because of the huge inventory of unsold houses. Many of those houses are foreclosures.

The Obama administration has tried a number of solutions to the problem, all of which have failed. Now they have a new idea that might help individuals who already own homes from losing them, but it won't do much to deal with the existing inventory of unsold homes. According to news reports, the administration is considering a plan that would allow all homeowners whose mortgages are guaranteed by Fannie Mae or Freddie Mac to refinance at current interest rates.

Currently, more than $1.5 trillion in government-backed mortgages involve interest rates above 5 percent, when the current rate is about 4 percent. These higher interest rates cost homeowners hundreds of dollars in higher payments each month. But even if the plan were to be approved, it's only a partial solution — and one with some unintended consequences: possibly depressing the value of mortgage-backed securities, for example.

Increasing the country's population with affluent newcomers, however, would have few drawbacks and many benefits. First, it would stabilize home prices by drying up inventory, which would benefit every American who owns a home. Second, it would infuse the population with up to a million additional taxpayers, increasing government revenues. Third, it would help create new jobs, especially in construction, home renovation and ancillary sectors.

Since the mid-1980s, Canada has had a similar program in effect. It lets in various categories of immigrants with high net worth who would either invest in existing businesses or start new ones that would employ Canadian workers. As a result, Canada has welcomed many job-creating entrepreneurs, mostly from Hong Kong and Taiwan, who have contributed enormously to Canada's relative economic health.

But what about the effect of such a program on the job prospects of unemployed Americans? One of the biggest anti-immigrant canards is that immigrants steal American jobs. In fact, immigrants create jobs. Studies consistently demonstrate that for every job an immigrant "takes" from someone who is native-born, more than one additional new job is created — to the benefit of everyone. The only downside is when immigrants also receive government transfers through participation in various welfare programs or through using government-provided services such as schools and health care.

But a program limited to affluent immigrants would not carry with it this disadvantage. In fact, depending on how it was structured, an immigrant lottery could alleviate these pressures by limiting the social services in which such entrepreneurial or investment-immigrants would be eligible to participate as they age.

There is no question that this approach to dealing with our current economic mess would be controversial. But the fact is that what we need now is real stimulus in the form of economic growth. And the one way to guarantee economic growth is to grow the population with affluent newcomers.

Millions of people worldwide want to come to the United States to experience our promise of political freedom and economic opportunity. Immigrants are a self-selected group of ambitious individuals who prosper because of their willingness to take risks and work hard. If we were to welcome not just the huddled masses yearning to breathe free but also the well-to-do individuals yearning to own an American home, we could help both the newcomers and ourselves.

It's an idea at least worth debating. It sure beats raising taxes or borrowing more money. The administration has exhausted its current options.

The housing depression is a drag on the entire economy. Until it's resolved, we won't see a full recovery. And I can't think of a better way to shed the current inventory of unsold homes than to let in people who can buy them with their own cash.

Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.


JWR contributor Linda Chavez is President of the Center for Equal Opportunity. Her latest book is "Betrayal: How Union Bosses Shake Down Their Members and Corrupt American Politics". (Click HERE to purchase. Sales help fund JWR.)

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