These days, it seems that our government is attempting to throw a party and no one is showing up, not because they don't want to show up, but because the government wont step up and send out invites to the party.
Granted, the current administration is not steeped in personal knowledge of the RTC and the S&L crisis, but they are not so old that it did not occur in their lifetime. Of course, circumstances were slightly different back then, but not much so. Today we have foreclosures, short sales and bank-owned properties....so did they back then.
So, given the willingness of so many individuals and corporations to 'chip in' and help move this along, it seems that it time for the invites to the real estate 'get back on track' party to be sent out so actions can fully get underway instead of the piecemeal approach that has gone on so far.
I do agree that it seems quite time for BOLD action, even in the face of not appeasing everyone. Americans by and large are out of shape and overweight, they don't like to take their medicine and they want a quick fix. Sometimes the only way to heal is by doing what you don't want to so you can get to what you always wanted.
Michael Hobbs, PahRoo Appraisal & Consultancy
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