Cap and trade to kill real estate

Like many ideas, on the surface the Cap and Trade bill in congress sounds like a great idea. Who doesn't want to be Green, Save the Planet, etc.

But don't try to sell your home if it passes. You may need to bring your home up to current efficiency standards. This could be $20, 30, 50,000+ just to sell your home. And you thought the commission and closing costs were a lot...

In the Cleveland area, many suburbs have a Point of Sale (POS) inspection. The property must be repaired prior to sale to comply with the inspection. If not, the tedious, expensive process can be bourne by a buyer. Sure there is a stated goal of maintaining the neihgborhoods but the unintended consequences include lower values and more vacant homes for longer periods.

The Waxman-Markey Cap and Trade bill will make these detremental POS inspections look like a minor cough compared to the crippling pneumonia with which the real estate market will be plagued.

On the surface, this may seem like a good idea but the consequences will be far reaching and will further hamper the already deteriorated real estate market. Many Realtors are leaving the industry now, this will escalate the problem. Just think about the cause and effect before you cheer this plan...