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To: Steve Lokness who wrote (7605)	1/27/2012 11:45:17 AM
From: grusum	Read Replies (1) \| Respond to of 85487

Just what exactly do you think will bring back the housing industry? lower prices and an end to government meddling.

To: Steve Lokness who wrote (7605)	1/27/2012 11:52:06 AM
From: Sdgla	1 Recommendation Read Replies (1) \| Respond to of 85487

Write downs {underwater mortgages} need to take place.... one way or another. Once that starts the process will begin. The write downs can happen by the note holders negotiating with home owners or via foreclosures. Once that process happens then the market will take care of itself. Obama and the socialists will pander for votes and delay this process via various promises but its the only way out of the mess we are in. Right now 1 out of every 30 homes are in foreclosure in California. In NYC there is a shadow inventory that will take 10 to 12 years to filter through. In Ca its 5 years. Those numbers are based on selling data. Shadow inventory is created when mortgages are put into short sale situations and then fall in and out of escrow as it takes 3 to 12 months to get through the negotiating process once it starts. Lots more but you get the picture Steve ?

To: Steve Lokness who wrote (7605)	1/27/2012 3:15:50 PM
From: Jorj X Mckie	3 Recommendations Read Replies (1) \| Respond to of 85487

Just what exactly do you think will bring back the housing industry? Everybody loves a boom. But they hate the bust. And they want whatever market that was booming to come back....NOW!...dammit Maybe the right answer is that the housing industry needs a bit more time to get normalized. The house that I bought in 1998 still appraises at 40% more than when I bought it. Are constantly rapidly escalating housing prices really what we want? I bet current college students wouldn't mind if the housing market were to drop a little bit now. There are no shortcuts to fixing the damage during a boom. The only thing that will bring the housing industry back that won't do more damage is......time.