Gloucester County Freeholders Deal In Real Estate Speculation

Woodbury,NJ- The Gloucester County Republican Executive Committee Chairman Loran Oglesby was disappointed, but not surprised that the Gloucester County Freeholders are asking for $5.5 million dollars of taxpayer’s money to buy foreclosed properties, fix them up and resell the properties under a program called Neighborhood Stabilization Aid.

“Isn’t this one of the main reasons that got us into this economic nightmare in the first place? Government intervention in the housing market? Fannie Mae and Freddie Mac?”  Asked Oglesby. “Are we that naive to believe that the Gloucester County Freeholders are wiser than the private sector professionals across the country?”

“There are many other areas that the Freeholders can apply $5.5 million to help in Gloucester County,” stated Oglesby. “How about tax rebates for every taxpayer, replenish food banks or give senior citizens a tax break so they can stay in their homes.”

“With the state of the economy, failing banks, businesses having record losses and the unemployment rates at their highest in decades, there are too many unknown variables in the housing market right now. Government has no business in the private sector,” states Oglesby. “For  government agencies to gamble with the taxpayers hard earned money on an uncertainty, the Freeholders might as well go to Atlantic City and put the $5.5 million down on a crap table”. 

“If the Gloucester County Freeholders want to gamble in the real estate market, then I suggest they do it with their own money and not at the expense of the taxpayers “ said Oglesby . “The taxpayers of Gloucester County cannot afford to keep funding the Freeholders ambitions”.