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

To: koan who wrote (265382)	7/31/2010 3:05:44 PM
From: Bonefish	Read Replies (2) \| Respond to of 306849

He did bailout the homebuilders with a tax rebate. He did give and extend $8,000 and $6,000 tax credits to homebuyers, first time and old. He's backing anyone who wants to give their house back to the bank and skip out on the mortgage. Why stay in your home regardless of the interest rate when it's sinking in price and the bank will let you skip out?

To: koan who wrote (265382)	7/31/2010 3:11:25 PM
From: John Chen	Read Replies (1) \| Respond to of 306849

" Obama did nothing to help the real estate crises. " The RE problem was the ballon price. Whoever tried to maintain it is NOT helping the real estate crisis. "I wouldn't just walk away from a house as it would destroy one credit." Is one's life/living worth the 'credit'? awes me.

To: koan who wrote (265382)	7/31/2010 3:14:37 PM
From: Valuepro	Read Replies (1) \| Respond to 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

To: koan who wrote (265382)	7/31/2010 4:03:51 PM
From: bentway	Read Replies (1) \| Respond to of 306849

Can't agree with you. Although I'm trying to sell a house now, the RIGHT thing to do is to let RRE devalue from it's ridiculous levels, NOT re-inflate the damn bubble.

To: koan who wrote (265382)	8/1/2010 8:13:54 PM
From: DebtBomb	Read Replies (2) \| Respond to of 306849

Let's deal in facts and numbers. It's going to be hard to have recovery with food stamps, unemployment benefits, and poverty. This is why I think we're going to 1 in 4 houses empty....we're already at 1 in 7 empty. They built 2 million new houses for years, for only 1 million new households. It's not rocket science. Builders and homeowners are going under and CRE is even worse, IMO. They should just bulldoze the empty houses and let the banks and housing pumpers go under. The American dream of owning a home is still very much alive, but it will be no more than a dream for a growing number of people over the next five years. That's bad news for home builders, who already have big troubles, as June's reports on housing starts, existing-home sales, building permits and unsold-home inventories showed. But it is good news for anyone renting out a home, apartment or condo, or any real-estate investment trust specializing in residential rental properties. Most U.S. households own the dwelling they live in, and that isn't likely to change. But demographic and economic forces, together with some perversities of government policy, are combining to push the share of ownership back to where it was in the early 1990s. Already, in the wake of the housing bust that brought on the Great Recession, the share of U.S. households owning homes has slid steadily—from 69% at its peak in 2004 to 67.2% in this year's first quarter. And the rate is likely to fall to its 1993-94 level of 64% by 2015. finance.yahoo.com