Waiting for the federal government to act on our economy’s problems will take a long time. It would be more efficient for a state government to begin helping jump-start its own economy.
Construction and real estate industries could be easiest to invigorate. Local mayors or boards of supervisors could begin to work on local solutions for new building and selling of real estate.
The city’s attorneys could provide counseling and ideas for persons whose property is in the pre-foreclosure mode. Loans could be restructured to save these owners from foreclosure.
Local leadership could work with local real estate groups to sell and get rid of already foreclosed properties to create a need for new housing. Nothing depreciates faster than unoccupied housing.
The above is just a sketch of what can be done locally. Others will think of more solutions to local problems. If local banks won’t make loans available, perhaps the federal officials can lean on them to make the banks more amenable to loaning.
It’s going to take Washington, D.C., a long time to act. State and local leaders can get the job done a lot faster by using local governmental personnel for local needs.