Cap-and-Trade Bill Would Make Housing Less Affordable
The Clean Energy Jobs and American Power Act would likely lead to the same conditions that caused the housing bubble of a few years ago.
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The Clean Energy Jobs and American Power Act would likely lead to the same conditions that caused the housing bubble of a few years ago.
This week's Big Idea is a bad one, and you'll find it featured in the Clean Energy Jobs and American Power Act (S.1733) now before the Senate.
Proposed legislation would offer financial incentives to increase the population density of communities in an effort to reduce greenhouse gas emissions and energy use. However, the available evidence, which is admittedly limited, indicates that such “smart growth” policies are misguided, producing minimal results at great expense and disruption. Such policies would threaten to disrupt the already wobbly housing market, make housing less affordable, reduce housing quality, and substantially limit consumer choice.
Do you remember the housing bubble? OK, if you’re 35 or younger, probably not — you were a teenager at the most when the bubble burst. But it was a