What is really happening...our President says today that foreclosures are better now than they were...I just caught the beginning of his televised speech at the Education Forum early this am, and he, President Obama, actually said when he came into office, I am paraphrasing here, that many Americans were faces with issues of foreclosure, losing their homes, and he intimated today things are much better...
I JUST SAW THE HEADLINES, REALTY TRAC SAYS 3 OUT OF 4 MAJOR CITIES FORECLOSURE AND PRE-FORECLOSURES ARE UP COMPARED TO LAST YEAR.
I dont know about you but I am tired of getting mixed information from the press, internet and newspapers, and now our President is intent on pitching how wonderful things are now that he is here...his parties platform and still trying to blame the prior administration for todays woes. Housing has not gotten better, talk the Realtors in the field. Look at the sales numbers.
For the 1st Half of 2010 we show an increase of closing, directly due to the Fed Tax Credits. The Tax Credits went away as did many of the buyers. All it appears we did is force buyers, much like the auto industry, to make purchases before the deadline while the deals were on. We did not solve any problems, just gave away $8,000 per home. Very few step up buyers did anything, so it turns out most were truly first time buyers. Now inventories of for sale homes continue to sit.
Instead of giving billion, or rather TRILLIONS to businesses and banks, how about this...
There are many buyers wanting and needing to buy, they need a bigger house, they need to take a new job yet they cannot sell their house because its worth less than they owe. So we have buyers wanting to buy and sellers who want to sell, in our area our inventory is up to 24 months. My suggestion is that the government allow a 1 TIME forgiveness, for buyers who have to sell below what they owe, and they then will buy UP to another property. We knock off 2 homes here, plus the sellers of the UP buy, they then will be out looking to buy also...We just took out 3 properties.
We could have just given a MILLION DOLLARS to each American vs. providing the stimulus money to the Banks, 300 Million people would certainly kickstart the economy, allow mortgages to be caught up.
Bottom line is anybody out there sick and tired of hearing how great a job Washington is doing, and looking for at least an administration that will tell the truth, the whole truth and nothing but the truth...so help them God...oops, probably cant say that...
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