When will the mortgage industry come back?  When will home sales start to come back? 

Forget about what Obama says, forget about listening to anyone connected to wall street. 

You can not build new homes or or sell new homes when:

The credit Crisis keeps getting stricter? 

• Last year we lost all subprime and Alt A products
• Then we lost all stated income loans
• We lost Home Equity Loans
• We even lost construction loan lending
• Downpayment Assistant programs went away for FHA Loans
• Recently a 620 Credit score minimum has been established on FHA Loans when FHA states they have no minimum score

What is the reason why the above programs have gone away or have been temporarily been modified?

Given the recession, which we have been in for some time now, and  the millions of people out of work,  the banks needed time to settle their own problems before they sought to help other new potential borrowers.  Why should the banks offer construction loans for new homes when they have thousands of homes that they are trying to sell themselves.  Why should banks offer low rates to new or existing borrowers when they can use the excessively large margins they have been getting to help them manage the losses they have?  Who can blame the banks?  Why are the best qualified borrowers taking 2 months to close, at some major banks?  Why should they rush, the government is giving them thousands of dollars to modify the mortgages that they currently hold.  I am sure that much of their resources are being used to get the modifications done. Modifications are making their books look better and they are getting a cash infusion to boot. 

What about the $8,000.00 tax credit - 1st we could use the credit for down payment, then we couldn't know we can.....BUT....since the taxpayer can not get the tax credit until after a home is purchasd they must FIND someone, not related to the R/E transaction to give them a bridgeloan and take out  second mortgage on the home to be purchase in order for the tax credit to be used for the downpayment.  I seriously do not think that this is going to help anyone buy a new home this year. 

Has anyone felt any positive affect from any stimulus package that Obama has passed?  Does it seem like most of the monies are going to State and Local governments to help them stay afloat?  Yeah I read the articles about how some state and local governments are actually slashing jobs.  But isn't the real problem that they are paying full pensions after just 20 short years of service? ...I wish I could have retired when I am 40 years old.  Why don't government employees work until they are at retirement age like the rest of America?  I recently spoke to a person who lives in the NJ/NY area..I was told that it almost seems that the state governments are trying to bring as many people to work for the goverment so that nobody will be left to question them....

Years ago our politions lied to us because we were stupid, now they lie to us because nothing can be done to stop them from doing whatever they want.  When was the last time you went to your local government meeting...how often does the entire town show up to oppose some rediculous ammendment or spending bill only to be ignored.  Have you noticed how Obama takes criticism....he makes a funny face at the individual and makes like the person is a 2 year old and should not be alloud to speak - I have seen this political tactic many times over the years. 

It sure looks like or government is looking to make an agressive change in the near future....who knows...

sorry for the venting...