Housing Sparks the Economy

By
Real Estate Agent with YourStories Realty Group powered by Castles Unlimited® MA# 9517963

Home Ownership is vital to our economy

Home Ownership is vital to our economyHousing sparks the economy.  One of six jobs in our economy is connected to the housing market.  The incredible recession/depression we have experienced beginning it’s downturn in 2008 was delivered to us by the Banks and Greed.  Banks were allowing anyone to buy a home.  No interest loans, no down payment, no credit check was the order of the day for most banks who were reaping enormous profits selling these bad loans in packaged Mortgage backed Securities.  It has been the Banks who put the Government’s bail-out money in their rainy day accounts and did literally nothing to help the millions of struggling homeowners.  This continues today.

Here in Massachusetts our Attorney General agreed to a deal with several other states to accept Government issued fines for their egregious behavior.  That money has been used to truly help people while the banks continue to stonewall growth.  The days when your Banker was a person you could meet, shake the hand of and have a conversation with about the issues you face are long gone.  Open Home Sunday for saleNow it is all automated.  Service people at the banks have scripts they never vary from. They can not be human and keep their jobs. They deliver horrible news to people like reading a grocery list. They continue to stonewall and provide misinformation that can not be verified or confirmed.

Now that the Banks are showing some record profits again, even with the hefty fines, they are beginning to loosen the stringent guidelines that hampered the regrowth of our economy for years.  This is good.  Credit scores needed to obtain a loan have dropped just a bit.  Underwriting of loans has come back off the Planet X they were living on and the result is some very good news the last couple of months for the housing industry.

September 2012 newsletterTo keep this going in a sane way we need for the Banks to understand that they are part of this problem and develop better service for those still in trouble while they open up the doors for people to buy again.  We in the real estate industry who assist buyers and sellers with their goals need for the Banks to help rather than hinder the regrowth of our economy. So far neither political party is discussing this which is a shame.  Both parties fully understand the connection, but it just isn’t as sexy as talking about Jobs in general rather than an industry that builds jobs.  Off this soap box I will say that it is so nice to see people obtain their dreams and goals in home ownership.  It is doubly wonderful to know that our work is rebuilding America. God Bless America, may she always stand as an advocate for responsible home ownership.

Posted by

Larry Lawfer, Realtor®YourStories Realty, It's all about you,

Larry Lawfer

Partner

Realtor®, Director of Marketing

YourStories Realty Group powered by Castles Unlimited®

837 Beacon St

Newton, MA 02459

larry@yourstoriesrealty.com, 617-774-8292

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Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Housing always has. . middle America's only way to save for the future while paying for a roof. .

Sep 05, 2012 11:03 PM #1
Rainmaker
682,731
Diane Daley
Caron's Gateway Real Estate - Northumberland, NH

Very good, informative post,  The housing market is very important to the economy as a whole.  Thanks

Sep 05, 2012 11:11 PM #2
Rainmaker
434,092
Kristine Ginsberg
Elite Staging and Redesign, LLC - Short Hills, NJ
NJ Home Stager

Larry - it makes my blood boil how the banks kept the bail out money for themselves instead of helping Americans who inevitablylost their homes. It's beyond a travesty! It's also unbelievable that banks loaned money to anyone regardless of if they could afford their mortgage which is what caused this whole housing mess. It's all about the banks - certainly not the people! Interesting post as usual!

Sep 05, 2012 11:16 PM #3
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Larry Lawfer
YourStories Realty Group powered by Castles Unlimited® - Newton, MA
"I listen for a living." It's all about you.

Thanks @Kristine in a world that is somewhat maddening at times with divisive talk on all sides, I save my greatest ire for these banks.  So agreed. 

Sep 05, 2012 11:20 PM #4
Rainmaker
1,066,535
Mark Loewenberg
KW of the Palm Beaches - Palm Beach Gardens, FL
KW 561-214-0370

really like your figure that: One of six jobs in our economy is connected to the housing market... gives me pride to be a realtor!

Sep 05, 2012 11:37 PM #5
Rainmaker
722,887
Patrick White
Home Driven Realty, Inc - Baldwin, NY
Driven to bring New Yorkers home

Good Morning Larry

Thanks for the good news. Have a great day

Sep 06, 2012 12:03 AM #6
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Larry Lawfer

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