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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (161490)	11/1/2008 10:41:55 PM
From: bentway	Respond to of 306849

"I can't see them rejecting what their biggest donors want." Maybe the congressional (D)'s can't, but Obama can. He's got millions of donors like me, who gave him $200 this cycle. Yet to be seen - if he can stand up to them, or will stand up to them.

To: Les H who wrote (161490)	11/1/2008 10:49:45 PM
From: Les H	Respond to of 306849

Market nails rehabbers Credit crunch, housing troubles force rehabbers to scramble St. Louis Business Journal - by Cynthia Vespereny stlouis.bizjournals.com The credit crisis is hammering home rehabbers, forcing many to look for a new line of work. Gone are the days when rehabbers could get big money with little or nothing down. And despite the buyers market of rock-bottom prices, most rehabbers report difficulties moving inventory. Even if they get financing, credit is tight for their customers, too. “We don’t have a housing crisis. We have a credit crisis,” said John Hayes, president and CEO of HomeVestors of America, which sells We Buy Ugly Houses franchises. “Our biggest challenge continues to be that people can’t get money. The only thing stopping our franchisees is there’s only so much money that HomeVestors, Uncle Harry and banks will lend.” Nationwide, HomeVestors has seen the number of its franchises decline to 220 from 250 at the beginning of the year. In St. Louis, the number of franchises has dropped from seven in 2003 to four today.