The housing market significantly impacts the economy. The vast majority of residential foreclosures were caused by unfair banking practices. The banks were bailed-out using tax dollars from US Citizens without a plan to help, support, assist or bail out the individuals who purchased the homes. Expunging residential foreclosure from credit reports will enable those US Citizens to make purchases, earn jobs and purchase another home.
The purchase of residential homes will stimulate the market by increasing consumption. It will also generate an increase in the collection of tax dollars needed to support public school budgets and therefore stabilize communities. The expungement of residential foreclosures will serve as the catalyst to reset the housing market in less than 4 years.