The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: koan who wrote (265382)	7/31/2010 3:14:37 PM
From: Valuepro	Read Replies (1) of 306849

"I am in real estate and a hard core liberal. ... the government could have forced the banks to refinance first and seconds up to 120% of appraisal for people with good credit and jobs who had owned their homes for several years and just got caught up in the downdraft." It was Liberal, give-a-way loans that got us in this fix in the fix place. Congress, in it's infinite wisdom, demanded that any borrower who could fog a mirror was entitled to a loan to buy a home or two, or three, or a dozen (with lies). No worries about borrower qualifications or appraisals, price acceleration would prevent any problems - until it wouldn't, and didn't. And you want more Liberalism in lending? Geesh! Here's an economic fact. The easier it becomes to access other peoples money, the more expensive things become, because everyone has more money - real or not. That's why when credit markets shrink, prices/values drop. Keep up the credit, extend the problems it creates. VP in AZ

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