Housing Armageddon: We Are In The Midst Of The Worst Housing Collapse In U.S. History

The Economic Collapse ^ | 2-2-2011

[Lessthantolerant]

Another government success story.

[rintense]

The foreclosed house next door to me is on the market in a normal sale, for well over 24k less than what I originally paid for my home 13 years ago.

[Doogle]

....and the RATS lead in the same set up with the banks and Freddie and Fannie as before and they expect a different result......

[ClearCase_guy]

Housing collapse is worse than the Great Depression.
True unemployment figure is close to 20%.
True inflation figure is close to 10%.
Misery Index is close to 30%.
Jimmy Carter's Misery Index topped out at 22%.

Is this what Recovery looks like?

[Ev Reeman]

The solution is not to prop up the housing and mortgage industry artificially.

Do nothing and allow the market to correct itself.

Let the bottom drop out and when it does reach bottom then it will start to rise again on its own.

[Marty62]

Or in other words: The Death of the American Dream.

I remeber when I was a yungin, I was always told own land. It is the ONLY security for your future.
The Dummies have turned it into a crapshoot.

[hosepipe]

Actually the real reason is here-—>>
http://www.youtube.com/user/fiercefreeleancer

[org.whodat]

The whole conclusion of this article has been posted here many times. There is no housing recovery there has only been attempts by the government to slow the decline of price, has not worked and will not work.

[YankeeReb]

....and yet, the MSM isn’t running too many stories about rising homelessness and blaming the Regime.

[YankeeReb]

If I were the suspicious type, I'd say this was all by design.
...Naaaaah!

[skeeter]

Concisely put. Sooner or later, the ultimate outcome of any government social program.

I'm afraid things will not return to where they were in my lifetime.

[RockinRight]

Too bad I already have a house (that I can’t sell without ruining either my credit, my assets, or both), because there are damn good deals out there for a growing family that needs more space.

[skeeter]

Concisely put. Sooner or later, the ultimate outcome of any government social program.

I'm afraid things will not return to where they were in my lifetime.

[Salamander]

So why am I am still paying the tax rate my house “deserved” 5 years [and $100,000] ago?

Is there oil or gold under my house and nobody’s told me about it, yet?

[DTogo]

Banks should be allowed to mark-to-market the current value of the homes, re-negotiate with the home home-owner to reduce the mortgage principal, and write off the loss. Same with the home owner - be allowed to write off the equity loss on their tax return.

Better to keep the homes occupied and mortgages current than increase the inventory of empty homes.

[blam]

The Coming Collapse of Commercial Real Estate is Already Here, Says Davidowitz

[skeeter]

At least the news media were honest enough 35 years ago to admit Carter policies were a complete and abject failure.

Todays news media is still trying to put lipstick on the democrats' pig. We're 'turning the corner' doncha know.

[Seruzawa]

Well, I guess we are all gonna die then.

[RockinRight]

Although it would royally f**k a lot of people into being stuck in 300% upside-down loans for a long time (me included), it might be the only way.