Seriously...how much more NEGATIVE real estate news can Buyers & Sellers take before our housing market basically IMPLODES!!!
That's all you hear right now - nothing but negative news on our 'bad' real estate market across the United States!!! Let's face it, how much more can the consumers stand before they just QUIT buying and selling - and say the hell with it? I know I'm sure getting fed up listening all this garbage...
As a full-time professional Denver real estate broker for the last 10 years, I have to admit there are some major problems going on in our industry that need to be addressed IMMEDIATELY!!! Here are my top three suggestions to save our United States real estate market...
1. We must shrink the existing inventory of homes for sale - including all of the extra foreclosure homes! This is a huge dilemma because right now there are no more zero down loans and it's very difficult for first-time homebuyers to qualify to buy the extra inventory. Plus, on top of that, all investors need a minimum of 10% to purchase the other foreclosure homes as a nonowner occupied rentals or fix/flips, so there are LESS buyers to get rid of our oversupply...
2. The mortgage crisis must end immediately!!! If there are not loans for people that want to buy a home, then we will NEVER sell off our existing inventory of homes in most cities this summer, this fall this winter or in the next five years!!! The mortgage loan problem is the #1 obstacle for most Realtors helping to sell off excess inventory - including foreclosures. It's just so simple - it's just merely supply and demand, and right now there is still a good demand for homes ...but no supply of mortgage loans for a huge amount of borrowers. (It's estimated that 24%-28% of all potential homebuyers CANNOT qualify for a mortgage loan now!)
3. The theory of that "If it Bleeds - It Leads!" for news broadcasting, radio and newspaper stuff must STOP - when it comes to talking about real estate!!! I'm not a communist and I certainly don't believe in censored news, but the continued use of "Let's Scared to Death the American Homeowner" is NOT responsible journalism! As a matter of fact, even if you were buying a house that was depreciating $5,000 per year over the next 10 years, you'd still be paying the mortgage loan down and creating your largest retirement cash nest egg! Cars depreciate to nearly $0 value after 10-14 years...but if you maintain them - you still get to drive them! Homes have NEVER done that - NEVER!! Home ownership is like a "forced" savings account for most people - that you actually get to live in and enjoy...while you're saving! Duh!!! So why does the news media continue to bash real estate and continue to scare the living crap out of most people?
The US housing market is never going to hit rock bottom and go to "zero" like some stocks do!
Since the evening news, radio broadcasts, and newspapers would not exist if it weren't for that advertising they sold, can't an intelligent person at the National Association of Realtors, the President of the United states or our "worthless" Congress explain to these media folks that owning housing is a POSITIVE ACCOMPLISHMENT for all people, of all colors, of all races, and of all political persuasions in the United States! According to the United States Census 82% of all wealth from retirees is sitting in their house! How can a 82% of weath creation be wrong? What am I missing here...why are they being so negative about real estate?
There's a lot of horrible things going wrong in the United States and in the world right now, but people still have to have housing! An INTELLIGENT PERSON certainly would realize that owning your own home outright - with NO mortgage payment (even if it was going down in value every year) is far better than paying out money to somebody else for a rent payment... even Einstein could figure this one out. Does feudal England, and the "class system" ring a bell? If you don't have a home that's paid off by the time you're ready to retire, then you are FORCED to keep paying money out up your Social Security and other savings - therefore creating the world's worst welfare state; that the United States will not be able to support!!!
Am I the only intelligent person out there that has this figured out?
Certainly our news media doesn't think the people are better off renting, after retiring - right? They certainly don't think retirees are going to start buying tents from REI and Wal-Mart and begin living in tent communities at new KOA Campgrounds 'suddenly' popping up all over the country - right? Owning your own house makes much more sense to me - or am I the only one who is NOT smoking crack? All the news media, Congress and the President need to do it to "inform" people that retiring without a home paid off - and paying rent out of your retirement is IMPOSSIBLE!!! Where is Ross Perot with his charts to show that you CAN'T retire comfortably (or at all) without owing your home outright? In the Soviet Union and Cuba, they built big high rise apartments for all the poor retirees - and poor peasants created by socialism...maybe the news media should show that and start promoting 'communal living' and socialism for retirees next!!! Or, maybe we should put retirees who don't own homes on icebergs and float them out to sea - to die - like the Eskimo's used to do...
Am I the only person left understanding that our present US housing mess needs IMMEDIATE help...???
Am I..?
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