The Housing Crisis Is Over !?!?!?!??!?!

By
Real Estate Agent with Keller Williams

According to RealtyTrac, REO's are dwindling in many parts of the country even as Foreclosure activity is higher than ever. There seems to be less homes on the market causing price to rise ever so slightly in many markets. A nice parlor trick being perpetrated on the American public and real estate agents around the country.

There have been many news reports and blog posts being published that are giving many people false hope as to the crisis being over or close to being over. It seems clear now, that we are not anywhere near the bottom or close to a recovery.

Lenders are holding onto the Foreclosed properties and not necessarily putting them back onto the market in any speedy fashion. This also explains the "stalling" of Short Sale approvals as they are trying to control and manipulate the amount of inventory and try to stabilize prices.

Well, the problem with that is that this crisis will take much, much longer to work it's way through the system and prices will be stagnant, at best. It is also taking millions of people lives for granted. The Lenders are not trying to fix the problem or assist the very system they single-handedly brought to it's knees.


Why is no one taking these Lenders to task?

Why are they not being forced to help the people they've hurt?

Oh! I know, we are supposed to let the free market system work....

Well, is it working?

Posted by

Sidney Jimenez, CDPE

www.RoadtoForeclosureRelief.com

www.SidneyJimenez.com

Contact Me: 954-665-9449

Or Send Me an Email to Go Over Your Foreclosure Relief Options: Info@SidneyJimenez.com

Sidney Jimenez is a Certified Distressed Property Expert and can help you with all your options to avoid a Foreclosure in Pembroke Pines, Miramar, Coral Springs, Margate, Davie, Weston, Southwest Ranches and the neighboring cities in South Florida. You can count on Sidney’s expertise to handle your Short Sale, he’s “Delivering Winning Results”

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Rainmaker
161,892
Satar Naghshineh
Satar - Amiri Property and Financial Services Corp. - Irvine, CA

Well, the federal reserve is doing exactly what it was designed to do, to use tax payer money (or even printed money) to bail out the big banks who created, run and designed the federal reserve.

 

Sep 23, 2009 07:01 PM #1
Rainer
286,848
Thomas McCombs
Century 21 HomeStar - Akron, OH

It depends on how your define the housing crisis. Do you mean the continuing fall of housing prices? Or do you mean the lack of buyers in the market, or do you mean an increase or decrease in the number of forclosures or bank owned properties? Or do you mean the situation right here in (pick a city, any city).

In my area of Akron, Ohio. we are still seeing more foreclosures and falling housing prices. On the other hand, we are seeing a large increase in the number of buyers in the market. And if mortgages were available we would see a very large increase. Last year at this time there were very few buyers to be found anywhere. So my opinion is that we are in the recovery stage now in this area.

Unfortunately the recovery stage is not going to look much different from the recent past for a while yet. It will take a while before we start to feel more optimistic about things. "This is a great time to buy a house!" -- pass it on!

Akron, Ohio

Sep 24, 2009 12:28 AM #2
Rainer
42,917
Brian Griffis
Realty Choice - Springfield, MO

Banks are just looking out for their shareholders.  They are not in the business of trying to help the market recover, they are in the business of maximizing profits.   Just makes sense they wouldn't dump all their foreclosures and take a loss.  That would be a huge hit for the shareholders. 

Sep 24, 2009 01:53 AM #3
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Rainer
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