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What happens If Buyer A goes 50 mph from Beaverton and Bank B goes 1,000 mph from Washington DC?
What happens when a buyer going 50 mph toward a short sale in Beaverton, OR, while a Bank backed by the politicians in Washington DC is going 1,000 mph toward the house, what happens when the market comes crashing down around us?
Every day we hear of the talk in Washington DC and how their policies are supposed to help the housing market. Last week we even heard that the recession ended in June 2009! To me, that was right up there with the dumbest statements ever to come out of Washington.
So, how are we supposed to fix this? We have buyers that want to buy, we have sellers that have to sell because they can no longer afford homes with unemployment here in Oregon at 10.6% and holding. That doesn’t even count the people that aren’t collecting unemployment anymore because their benefits have run out and they no longer qualify, but still don’t have a job.
We have buyers that want to buy, but because of the mess in Washington, and inside the banks, even people with great credit scores are unable to qualify for a loan. Or the loan they qualified for last week is no ... more
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