Add a comment | Monday, September 28, 2009
Cap and Trade passed the House. Now the Senate is working on their version of the Waxman-Markey bill. It appears the final result may include a new “National Building Code”. Homes would have to undergo and pass an “environmental inspection” when sold.
Mandated compliance of these new energy efficiency standards would make selling more expensive and difficult. Older homes and fixer uppers could represent cost prohibitive situations for sellers. Buyers would lose an opportunity to remodel, repair or upgrade with their options and desires.
Obvious other ramifications from this will only further delay economic recovery. Other government regulations forced on home sales and the loan industry this year, have already had negative impacts. The “American Dream of Home Ownership” is only being contradicted by much of this legislation.
