John Crudele has mentioned this before, as have I.
Here he is once again in The New York Post:
Which gets me back to my favorite subject: my idea for fixing the economy.
If Washington wants to stimulate the economy without spending money (which it doesn't have) or reducing interest rates (which can't go any lower) or destroying the value of the dollar and stoking inflation (which Bernanke's QE is doing), then it should try my plan.
Change the rules on retirement accounts so that some small amount of the $15 trillion in these plans can be invested in real estate.
Let the Americans who can afford to buy real estate in their retirement plans do so.
Give them tax breaks. Encourage them to move into vacant condos in Florida, Arizona, California and everywhere else.
Get these properties off the books of banks and the federal government.
I'll get back to this another time when I have more space. But someone had better come up with a new idea -- and fast.
