I am going to get flamed, but I would tend to agree with this. We need a MAJOR correction in real estate prices NOW. We may have to start from ground zero. The present prices can NOT be sustained and very few seem to be appropriately negotiable.
Something better give...Unemployment reaching the highest levels in years and no end in sight..This only took a year for 0 to accomplish...If he goes another 3 years can you imagine the mass exodus of the unemployed walking away from their homes? *shiver*
I won't flame you, but I will disagree.
I believe that the actions that the Fed have taken combined with the Obama Administration's spending will create runaway inflation as a previous poster stated. Everybody will be a millionaire (probably on a weekly paycheck basis) and your piddling little $3000 monthly mortgage payment won't even equal what you spend for beer money.
Won’t flame you, either, but I would like to borrow some money from you. Will sign any number of appropriately-negotiable notarized acknowledgments of debt, payment schedules, etc. I’ll promise to pay you back, really. So can you spot me $50,000 or so?
“I am going to get flamed, but I would tend to agree with this. We need a MAJOR correction in real estate prices NOW. We may have to start from ground zero. The present prices can NOT be sustained and very few seem to be appropriately negotiable.”
Or as Rahm said; never let a crisis go to waste? In case you are not aware; a major correction has already happened in some markets.
We need to get the Marxists, socialists, and left wing activists out of the discussion.
How do these idiots think they will get financing to buy these lower priced homes, if all the scum are allowed to default on the loans they signed up for.
I just get so sick of people wanting to blame their poor decision making on someone else.