The Win-Win Solution

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Win-Win Solution: How Fixing the Housing Crisis Will Create ONE MILLION JOBSWhat if there was a solution to the housing crisis that could also help create one million jobs?

Together, with The New Bottom Line, we are releasing a proposal that does just that.

According to the report, The Win-Win Solution: How Fixing The Housing Crisis Will Create 1 Million Jobs, if banks lowered the principal balance on all underwater mortgages to their current market value, over $70 billion per year would be pumped back into our economy, millions of families would be able to stay in their homes, and over 1 million jobs would be created

Major Findings:

By writing down all underwater mortgages to market value, the nation’s banks could:

  1. Pump $71 billion into the economy every year;
    - In New York state the annual stimulus would equal $1.25 billion
    - In Ohio, $1.64 billion
    - In Florida, a staggering $12 billion
  2. Create more than one million jobs annually;
    - In Massachusetts this would create over 35,000 jobs
    - In Illinois nearly 43,000 jobs
    - In California, over 300,000 jobs
  3. Save families an average $543 per month on their mortgage payments;
  4. Help investors come out ahead compared with the negative financial impact of foreclosures
  5. Fix the foreclosure crisis once and for all.
   

 

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