Let's Get to THe Bottom
I read this and I am thrilled that we are starting to see other people thoughts on getting to the bottom. THe government needs to get out and we will settle down and start to climb. The sooner the better..... Buyers are not dumb and there are plenty of them out there just waiting to move.
As the economy again sputters and potential buyers flee — July housing sales sank 26 percent from July 2009 — there is a growing sense of exhaustion with government intervention. Some economists and analysts are now urging a dose of shock therapy that would greatly shift the benefits to future homeowners: Let the housing market crash.
When prices are lower, these experts argue, buyers will pour in, creating the elusive stability the government has spent billions upon billions trying to achieve.
“Housing needs to go back to reasonable levels,” said Anthony B. Sanders, a professor of real estate finance at George Mason University. “If we keep trying to stimulate the market, that’s the definition of insanity.”
via the NY Times