[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.

[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.

[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

[Seruzawa]

Well, I guess we are all gonna die then.

[A CA Guy]

There is no credit. There is hardly any inventory out there because the banks sit on them or rent them rather than realize a huge accounting loss by selling them.

[WVKayaker]

[Kartographer]

blam you of all people no that this is all the fault of the ‘Dead Beats’!!!

[cranked]

But hey, look on the bright side, there are a multitude of idiots who are proclaiming that the economy is getting better...now. /s =.=

[fatrat]

The price of homes will continue to fall until the average family can afford the average home and that is a long way off yet.

[DuncanWaring]

Ping.