Will the CAP and Trade bill kill the housing market?

While people were distracted by Michael Jackson's death, the Cap and Trade Bill HR 2454 was passed in Congress. Part of this bill is a requirement for all home sales to be conditioned upon an energy audit and an energy rating assessment labeling program. How much additional selling costs will all sellers now be required to pay to comply with the proposed requirements? How much will sellers need to invest in older homes to bring them up to the required conditions? Will sellers will have enough equity in their house to do that and are they going to have cash to update their house. Will buyers agree to pay a higher price for the renovation or in this buyers market will sellers need to reduce their selling price and lose money? A lot of questions that no one wants to answer and we all know that the only way out of recession is to fix the housing market.

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