Time To Keep Score has of the cap and trade bill is accurate (and to be honest, I can totally see that happening), the market for secondary homes could well dry up. In order to sell a home, especially older homes, you might have to get it up to a certain level or pay huge fines for being such an eco-unfriendly consumer. Imagine what a boon this is to the HVAC industry as they would suddenly have a whole host of people trying to trade out their heating and air conditioning for models that are officially "good for the environment." Add the additional taxes (either via an outright tax or through increased costs of goods to cover companies' costs) we'd certainly have to pay in order to cover the bill that the government would send out for this, and we can expect to have less money a year from this bill's passage than we do now.
While I think about that, why do we have to buy these credits from the government? Since when did they take over ownership of our lungs, or the air over the US, or whatever this is supposed to protect?