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3 Comments on The Housing Crisis Is Over !?!?!?!??!?!
Well, the federal reserve is doing exactly what it was designed to do, to use tax payer money (or even printed money) to bail out the big banks who created, run and designed the federal reserve.
It depends on how your define the housing crisis. Do you mean the continuing fall of housing prices? Or do you mean the lack of buyers in the market, or do you mean an increase or decrease in the number of forclosures or bank owned properties? Or do you mean the situation right here in (pick a city, any city).
In my area of Akron, Ohio. we are still seeing more foreclosures and falling housing prices. On the other hand, we are seeing a large increase in the number of buyers in the market. And if mortgages were available we would see a very large increase. Last year at this time there were very few buyers to be found anywhere. So my opinion is that we are in the recovery stage now in this area.
Unfortunately the recovery stage is not going to look much different from the recent past for a while yet. It will take a while before we start to feel more optimistic about things. "This is a great time to buy a house!" -- pass it on!
Akron, Ohio
Banks are just looking out for their shareholders. They are not in the business of trying to help the market recover, they are in the business of maximizing profits. Just makes sense they wouldn't dump all their foreclosures and take a loss. That would be a huge hit for the shareholders.