Short Sales is our way of correcting a problem that should have never been. An ideal and normal market should and would correct itself. Supply and demand always worked. The problem was that all the excessive lending done on product was a result of an unregulated marketing blitz and dreams of quick riches.
WE WERE ENCOURAGED TO GO ALONG
People did not fail. The systems failed. If you have ever been to Las Vegas, there exists an element outside the glitz and glitter, the lure and suggested promises that is as sobering as a concentration camp. I am speaking of all the pawn shops that inhabit the City. They are filled with every type of item that was once owned by people which upon reflection tells a dreary story of how it got there.
LAS VEGAS STYLE TACTICS IN THE REAL ESTATE BUSINESS
Las Vegas doesn't post warning signs that say that the majority of people lose their money. It is understood that you visited the city willingly and no one forced you or encouraged you to bet. But that is not true of the stalled Real Estate market. Reckless loan activities and the artificially inflated pricing from people buying homes all across America is irresponsible corporate and government allowed tactics
THE HOME OWNERSHIP CONCEPT IS SOUND
Keep in mind that the typical American home was a nest egg that was supposed to allow a soft landing for a retiree 20-30 years from the date of purchasing the home. After paying your home off, social security would kick in and a person could at least have some dignity in the form of a place to stay as they grew old and more vulnerable. That was the American dream of having a minimum good life from beginning to end. Of course more is available should you wish it in this land of opportunity
INSULT TO THE INJURY
Now, a large percentage of Americans have no retirement plan in the form of their home or anything else. The insensitivity and gall of governmental leaders to even bring up Social Security issues when people still have not recovered from this shocking and disturbing Real Estate trauma just amazes me. In fact any governmental issues right now that go unresolved testify to governmental insanity
JOBS MAKE A DIFFERENCE
Consider...if there was strong employment and everyone had jobs, then perhaps this Short Sale pill wouldn't be so bitter to swallow. We would make our payments and try to re-negotiate at some point....but then the banks would still have the final say..wouldn't they?
You shouldn't be faulted for thinking of defaulting.....please continue to part three
SHORT SALES...IT'S US ADJUSTING THE REAL ESTATE MARKET....part three