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: techlover1 who wrote (265534)	8/1/2010 1:52:05 PM
From: koan	Read Replies (2) of 306849

I agree. Yes, up here the rental properties have already reached brand new highs. I have sold over 50% of all multiplexes over the last decade (not sure why-luck?), but the last four I have sold were at prices way above the old highs and presently we have nothing of value for sale. Rental prices, as you say, have also risen to all time highs. The banks took advantage of the crises they created to now take free money from the fed and then lend it only to people with the highest credit scores. The big banks make more money gambling on the world market. As mentioned, if we allowed streamlined refinancing to the middle class who have good credit scores and jobs, of 1st and 2nds at 120% of appraisal, those loans would be quality loans (those folks pay their bills) and go a long way toward reducing forclosures and helping our economy e.g. it would put a lot of people back to work. It would also allow the middle class to protect their credit. A strong middle class is the foundation and backbone of a strong economy and healthy democracy. Why the Obama administration can't figure this out just blows my mind. It is so simple.

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