"Home Values Are Plunging"

In Barack's own words, from the ObamaBlog:

More than 600,000 Americans have lost their jobs since January. Home foreclosures are skyrocketing, and home values are plunging. Gas prices are at an all-time high, and we're still spending more than $10 billion every month on a war in Iraq that should never have been waged.

I agree with Barack that plunging home values are a crisis that must be fixed. It would be far better to have skyrocketing home values so that people will no longer be able to buy fossil fuel-burning homes.

Now, I already know what you are thinking: "But Professor, if you and Barack like high home prices, then how will we achieve our vision of affordable housing?"

My response to such a naive and insensitive question is that I (and Barack!) are under no obligation to entertain such smear-mongering and racially-charged accusations from Christianists who are clearly on the Bush-McCain-Palin-Haliburton-Hitler payroll.

In any event, demolishing half the nation's housing stock would go a long way towards addressing those plunging home values. It's been proven as a highly effective strategy in other countries.