Well, let’s review....FHA is about to beg for more money; Fannie Mae and Freddie Mac are crippled by corruption; the major banks are holding a huge inventory of foreclosed loans - hoping to avoid a huge loss (good luck with that) that would be the result of dumping all of these homes on the market at once; unemployment remains high, and; businesses are issuing pink slips by the wagon load.
Sounds like a firm foundation for a housing boom to me!!
LOL
Your perspective is all wrong. Think of all the jobs that could be created if we just start demolishing houses by the thousands. We could make it a law that a foreclosed home had to be levelled. Soon there would be a demand for more housing as more and more people were left homeless. Think of the money people would save if they didn't have to pay for a mortgage. Then there would be a huge demand for housing as people would want some place to live. More houses would get built and because there would be so many extra houses, they would be affordable. Hence, low and no income people could afford to pay on mortgages. The whole housing market problem would be fixed.
TA-DA! (is a tag needed here?)