Wednesday, January 10, 2007

Moratorium Madness

In what appears to be a move that will stop county growth, members of the Rutherford County Regional Planning Commission is studying the legality of a moratorium on residential growth for six months while developing plans for the future.

Hear that noise? It's the screeching halt of economic development in the county. Let's make it real simple. Jobs come to an area. When jobs come, people come. People stop coming because there's no place to live. No people, no jobs. Home Depot, Lowe's and other building supply companies start laying off workers because sales are down. Builders start laying off brick-layers, carpet installers, construction crews because they can't build. These people who are no longer earning a paycheck can't pay their bills. Their homes go into foreclosure and they lose their creditworthiness.

Meanwhile the builders are also going bankrupt paying the interest on the lots they own that they can't build on. It's an ugly proposal, in my opinion.

Read more about it from today's Daily News Journal.


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