financial crisis: Govt purchase of toxic homes
- 11/07/08 04:58 PM
The current economic crisis may require a solution greater in scope than the FDR's New Deal. Perhaps one part of this program could be purchasing older homes that were Built with asbestos materials, Painted with lead paint, Non-compliant with current building codes, and Have no historic value. The govt could then perform an environmental cleanup on these residential lots to remove an older, toxic structure, and replace it with a new affordable 'green home' that is energy efficient. From a Broker in Bandon, Port Orford, & Gold Beach Oregon … (0 comments)
financial crisis: Govt Bailout - $250 million purchase of bank stocks
- 11/07/08 04:43 PM
The govt has been slow to provide a clear explanation of their objectives in this bailout, once again the govt is delinquent in developing the proper regulatory controls needed to ensure the objectives are accomplished in an acceptable manner that properly manages the associated risks; and the govt. failed to define specific criteria by which it will measure the success of it actions. Banks buying other banks before they fail will prevent the added burden on the FDIC of another bank failure. It also prevents further asset declines in the purchased institution and shores up the market. Banks lending money to businesses and consumers can increase … (0 comments)
financial crisis: NAR Housing Market Facts 1st Qtr 2008
- 11/07/08 07:33 AM
Over the past 30 years, home values have risen more than 6 percent annually. 60 percent of the average homeowner's wealth comes from their home. Homeowners benefit from the power of leverage. At an annual appreciation rate of 5 percent, a 10 percent down payment on a home will return 94 percent after 3 years. After 5 years, the rate of return increases to 225 percent, and after 10 years, 623 percent. At present we are in a declining housing market and homeowners are losing equity. A 5 percent decline in the market value of a $200,000 home would wipe out the homeowners … (0 comments)
financial crisis: Brainstorming on how the govt can stabilize the housing market
- 11/06/08 04:16 PM
Here are a few of my ideas. The govt. could make a bid to buy foreclosed properties at 60% of the amount of the 1st mortgage with the contingency that the Bank that owns the property has 60 days to accept and close on the govt.s offer or a higher offer. After 60 days the govt.'s offer expires and no subsequent offers will be made by the govt. The govt. could buy up distressed properties within a commuting distance from military bases and use them for military housing. schools and make them available for teachers and school employees hospitals and make them available for hospital … (0 comments)
The current economic crisis may require a solution greater in scope than the FDR's New Deal.
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