Former Goldman Sachs executive would turn foreclosures into mini-ghettos

Foreclosure Ghettos

Whenever you hear people talk about this so-called “foreclosure crisis” or “housing crisis” or whatever these Leftist opinion leaders call it, remember this.

We need less “woke,” and more “spoke.”

As in, we have to speak the real truth about public housing.

Because if we don’t, we soon are going to all end up in public housing!

There’s a very rich guy, and Obama choice to be our Ambassador to Germany, who’s running for Governor of New Jersey. His name is Phil Murphy, and he’s the odds-on favorite to be the Democratic nominee for Governor this year. In a deep blue state like New Jersey (Hillary carried it by 14 percentage points) that means he’s very likely New Jersey’s next Governor.

And Ambassador Murphy, being a rich do-gooder who feels ashamed of his own accomplishments in life, senses he must atone for his success by “giving back.”

It’s in that spirit that Murphy wants to turn foreclosures, in the midst of thriving working, middle and upper class neighborhoods, into mini-ghettoes.

Ever wonder how it’s like to live in a housing project? People in New Jersey might soon find out.

Assuming they don’t move first.

Murphy puts forth his “housing rescue” plan (actually a rehash of a twice-vetoed “foreclosure residential transformation” bill passed by New Jersey’s Legislature earlier this decade) on his campaign website. It reads:

Murphy said he would aggressively pursue the state’s fair share of Wall Street mortgage settlement funds to launch a program in which the state would purchase foreclosed homes and partner with qualified nonprofits to repurpose them as affordable housing.

“Affordable housing”?

In plain English, folks, that means a little housing project, for a whole bunch of people who otherwise can’t afford to live in your neighborhood.

As for your home values, they’re likely to crash. That’s because people who can move out of the ghetto, get the hell out of them and they do not ever look back. There’s no conga line of people lining up to buy homes right next to housing projects — er, sorry, “affordable housing.” Why is that? It’s because public housing contains some of the worst people you would ever want to have as neighbors. The mentally ill, the drug-addled, and plenty of criminal elements.

It’s also because public housing was originally sold to the electorate as an absolute last housing option for those with no other choice except homeless shelters or a cardboard box outside. It was not intended to become permanent low-income housing, which is precisely what it’s become across America. (Ask yourself whether its original proponents knew all along what would happen, and purposely stayed silent.)

Some very good houses in upper and middle-class areas fall into foreclosure when disaster strikes their owners. It could be a medical emergency of which the cost outstrips the insurance coverage.

Under the Murphy plan, those homes would become a great opportunity to turn a big house into a multi-unit “affordable housing” development, into your neighborhood! (For the sake of “diversity,” you know.)

And if the home equity you’ve built over decades of responsible ownership gets wiped out, well, you’re “rich.” So it serves you right.

Homeowners, check your privilege.

Now, why would any politician advance such a plan?

Maybe it’s because the politician doesn’t understand basic economics. Some of our elected leaders are, truth be told, not the sharpest tools in the woodshed.

But why would Murphy, who is clearly a smart guy — a former Goldman Sachs executive who actually omits any reference to this on his campaign website — push this plan?

He understands the economic forces at work. He also understands the political forces which make him make a choice between the Leftist votes he thinks he needs, and the homeowners whose votes he believes he can take for granted.

In making such a choice, politicians like Murphy (and there are many others) are pandering to the societal death spiral Gramsci Marxists who envy, hate and want to hurt anyone else who’s “got more.” To these real deplorables (the vast majority of whom gravitate to political or cultural Marxism), anyone with a home is morally inferior, evil incarnate.

Confiscation and destruction of private property has often been among the first actions of totalitarian regimes upon seizing power. This attitudinal shift is laying the groundwork for future generations to come to believe those actions would be totally reasonable, acceptable and legitimate.

Private property, after all, is the crime in their eyes. So these “foreclosure relief” measures are really just an attack on private property.

But when that gets attached to the siren song of “compassion” and combined with the constant threat of having the worst character traits imputed to you for disagreeing, you have gutless or clueless politicians racing to get the votes of these “progressives.”

As for your vote, you’re either taken for granted, taken for a sucker, or considered irrelevant. Or maybe all three.

Conservative News

Eric Dixon

Eric Dixon is a conservative lawyer, campaign strategist and blockchain technology innovator. He has been an election lawyer and delegate candidate for the presidential campaigns of Ted Cruz and Steve Forbes, and has successfully represented media organizations including National Review in lawsuits against the government. A Yale Law School graduate, Mr. Dixon is headquartered out of New York and represents companies, entrepreneurs and investors on financing, corporate governance and regulatory compliance issues. Mr. Dixon is also a former radio talk show host, think tank research director and has completed thirteen marathons.

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