I would stop all the negative hype.  people are afraid to buy for fair market value.

Gayle Balaban  Thanks for sharing.  But is it hype or facts?  For all the press it recieving, why are the politicians ignoring doing anything?   If we read other headlines that came out today...bankruptcies rose 40% in 2007!  Do you know what the politicians are already talking about?  Tightening up the bankruptcy loopholes.  That protects the banks, not the people that elect them to office.  Sad isn't it?

Note:  Google "Bankruptcy" under Google news stories.

Wow, Jim.. that's a tall order.  I think we are expecting too much out of Washington if we're expecting them to solve the housing mess.  I agree with many of your points but I think the free market, if left alone, would cure those ills.  Unless we let the market run its course, all we're doing is postponing the inevitable. 

I suppose I would start by tackling the liquidity issues, improving bottom-line corporate banking transparency which would hopefully restore some investor confidence in MBS's, encourage the renegotiation of certain mortgage loans currently in trouble, encourage the building of more refineries, push for mainstream alternative energy choices, reduce the national debt, re-write current tax code, revert to the gold standard, etc.  The housing market is feeling the crunch because of much larger issues, which making headway on those will be quite the challenge.

It appears in our local market that the main thing is for Sellers to get real about pricing their homes or take them off the market. A supply and demand thing that needs to reverse...

The politicians will always do what politicians always do, manipulate the tax and regulatory laws to favor their biggest contributors. 

They need to take a long vacation and let the market work.  Keep their grubby hands out of the real estate market and let market forces work. 

It's funny how people go to fail when they try to manipulate the stock market.  But as soon as the real estate market gets in trouble, everyone wants the government to do something.  I want the government to keep their grubby hands off the real estate market.  No matter what they do will favor one side over another to the unfairness of another. 

Send them all on junkets.  They can't cause any trouble when they're out of the country.

Fairbanks, Alaska Realtors Jesse & Kathy Clifton I really do not think it is a tall order at all if persons would just do their jobs.  You have to understand all the agencies have their over-sites in Congress for accountability.  They can review mortgages, banking, securities and fraud.  They are doing none of the above.  Some of the candidates on the campaign trail have missed 75% of their votes this year because they are campaigning!  I worked in DC, and used to set up lobbying, I know a lot more how they work and what drives tehm.   Believe me it is not your needs they are concerned about.  If they did nothing about the people displaced in Katrina, what makes you think they give a damn about real estate?

Charles McDonald / Your Trusted Buyers Agent in Charlottesville, Virginia!  I really agree with that premise.  Non motivated sellers need to withdraw the listings.  A major drop in listings would be the best thing that could happen to a market. "Sellers to get real about pricing their homes or take them off the market. A supply and demand thing that needs to reverse... "

The real fix is to let the market work - it always does much better when the forces of competition are not meddled with.  Also, we need to get back to sane lending practices

Homefinders, Real Estate in MD & VA, Lenn Harley, Broker, New & Resale HomesLOL!  I agree!  I am also a free market proponent!  Market forces will level the field, politics will prolong the agony and stall.  It will be like someone stopping in the middle of a limb aputation while the politicians put the fingr in the air to see which way the polls and public sentiment are blowing.

Karen Kruschka - One of the most experienced agents in Northern Virginia Amen!  Whatever happened to saving up for a down payment for a few years before buying a home?  Credit is fine in very limited circumstances.  I believe it works well for Bill Gates, Ted Turner, and Warren Buffet.  For the average person, 100% mortgages is financial suicide, and personal ruination.

Jim, First of all I enjoy your comments on REMAX Mainstreet.  You provide a lot of good advice and info to the agents.  Karen is right, whatever happend to saving for a down payment. Our area would take $500 down to buy a house and then the buyer would ask for it back at closing while financing 100% plus closing costs.  Doomed to failure, all to blame but particularly the lending institutions who got greedy.  Lucky for the US they found more greedy banks overseas to buy these loans.  Otherwise we would be in a depression not a recession. 

Bob Bazzel, Hernando County FL   Thanks!  I fully agree with your comments!  No money down does not work in any fashion! Sweat equity, overtime, earnest money, and down payments do work!  When you have something invested in the home, have some equity... you do not walk away in 5 months!  In the Great Depression, there were balloon payments, but the required down payments was 50% down!  They need to prosecute mortgage fraud!