Re-open the topic of CPA? (0.00 / 0)
The controversial Rappaport-sponsored study of CPA is over three years old. At the time, the response seemed to be mostly against the study’s conclusions.
Since then, the state’s economy has gone through a major down turn. The divide between incomes in the Boston area and the gateway cities like Fall River, Brockton, Lowell, Springfield, Pittsfield, Fitchburg, etc. has grown wider.
At this point the reason for home foreclosure is less sub-prime mortgages and more longterm unemployment, which is more common in rural areas and the gateway cities.
The CPA is funded by real estate transaction fees, and those fees come into play in the foreclosure process, though I assume the person foreclosed on is not charged them.
The question is: Can we still refute the claim that the less wealthy are subsidizing the wealthy through CPA?
The proposed legislation to Sustain the CPA is knocking around Beacon Hill. Is it the right thing to do in the present economy?