Buying First Home

This letter is in response to the June 30 Speaking Out column contributed by Frederick W. Pierce IV (“Steps to Help People Buy That First Home”).

Pierce proposes six measures that could “be easily legislated and funded by various governmental agencies. . . .” He puts the burden of providing financial means on faceless deep-pocket bad guys, namely government and corporations. He never once mentions that we taxpayers and consumers (read: voters!) will ultimately bear this financial burden.

Artificially bridging the affordability gap will only push ownership farther out of reach for those who don’t get on board this time around. What then? More legislation? How about some accountability? Face it; the gravy days of the ‘80s are over for a while. Market forces at work are the only answer; prices and interest rates are still too high, but recent sales figures indicate the situation is improving.

Our legislators, and we taxpayers/consumers who elect them, are smart enough to see through this pretentious, self-serving agenda. Pierce’s superiors at Price Waterhouse would do well to keep him on a short leash if and when they let him publish again. His article did nothing but point out the industry’s failure to grasp real answers.

JOHN CROWLEY, Redondo Beach