Latest news indicates that housing prices continue to slide. According to a story by the Associated Press, San Diego-based tracking firm MDA DataQuick reports that “California's median home price dipped 2.3 percent in November compared to the same time last year as slow sales in the state's higher-priced markets tipped the balance toward cheaper homes."I’m sorry, but more should be allocated for this vital industry. If a similar program of $8 billion was released again today, it would significantly help to work through the glut of homes for sale and yet maintain reasonable government spending. Housing is an important economic sector — more valuable than the U.S. auto industry. Yet the auto industry received greater support. Housing deserves more financial support because of its massive influence on the world economy, and the amount allocated to date compared to other industries is appalling. Forget the bridges to nowhere, wasteful government hiring, and foreign aid … let’s fix the U.S. housing industry, where the real problem started.

Are we going to get to bottom anytime soon, or is the next dip around the corner? I think the solution rests in the hands of this Administration and new Congress to increase buyer confidence and clear the glut of homes for sale in the major U.S housing markets. While we must let the market work through its issues in a natural way, encouraging buyers to scoop up deals without running up serious governmental debt is possible.

According to The New York Times, the original tax credit was only $8 billion of the $787 billion allocated, representing only 1 percent of the entire stimulus package at that time. 

Join me to create action by writing your congressional representatives to support housing!