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The national government has no money. But it does have tons of capital that made it have no money. Properties. Around 250,000聽 foreclosed properties. In an effort to make money while at the same time improve the housing market by getting rid of foreclosed homes that are stunting home sales, the United States government is thinking about renting out the properties. If you complain about finding a good place to stay in Portland, you might just see thousands of new Craigslist postings in the near future.

The New York Times today on President Obama’s plan to offload the country’s glut of foreclosed property. The effort that would not only help the housing market, but the construction industry as well, as the properties will in many cases need repairs.

The proposal is in the embryo stage, with due on Sept 15. Some ideas thus far include setting up rent-to-own schemes for the former owners of homes. Add your voice to the mix. As Sen. Harry Reed, D-Vt., remarked in the Times article:

This is a call for innovation and an opportunity for businesses to not only make money and create jobs, but also provide affordable rental housing for those who need it and strengthen our communities at the same time.鈥�

Photo by via Flickr