A Homewood Saturday

The Save Race Street Committee netted about $96 in part 2 of our yard sale, bringing our two-week total to about $300. A lady who works at the Y asked me if we were going to do it every month. A couple of people offered to donate stuff. I have no idea how often the Committee would be willing to do the yard sale, other than what some folks have said about a repeat in the spring. But there may be support for a more regular event than we have imagined.

I took a break from the yard sale to check in with some Operation Better Block folks who were conducting a survey on Race Street: Khalif Ali, Evans Moore, an intern named Ryan (didn't get his last name), and a Hamilton Avenue block club member, Keith, whose last name I forget. Again I took the opportunity to point out the quality of the housing construction on Race Street - the craftsmanship of the brickwork and woodwork, the stained glass windows. And again I pointed out the discounted prices at which houses are available. I had the group stop to give attention to 7311 Race Street, and I said, "You can buy this house today!" - because the house is for sale, the house is listed with a Realtor, the owner is telling the entire world through this Realtor that anybody in the entire world can buy the house right now - for $14,900.

I didn't even mention the first-time homebuyer's credit under the stimulus plan, where a buyer could get back up to $8,000.

With Dwelling House gone, some people have asked whether any other institution will finance the low-income and/or high-risk clientele that the S&L loaned money to. But another question is, will any other institution give mortgages on properties with such low sale prices? The first-time homebuyer's credit may be the best help a lot of people will ever get in buying their first home, and it could make the difference in whether many people buy at all. Someone who might not have $15k to invest permanently, might be able to put it together with $8k coming back in a few months.

It's a wonder that tax-prep firms like Jackson Hewitt and H/R Block haven't tapped into that potential market. But I don't say that they should, because their fees might be excessive.

By the time I got home from the yard sale and got cleaned up, Our House Development's Economic Awareness Day was pretty much over. Did anyone here go? How was it?

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