[quote=HLS]Flu,
You are touching on part of the concern of the report which is that many people cannot qualify to buy (even with almost nothing down) because of lending guidelines…
SO… should it be easier for people to qualify to buy ??
There will ALWAYS tenants, in all parts of the country.
The macro housing market is not like San Diego/ So Cal though.
I have a friend in FL who was told he could get $340K for his house last year. It’s been listed for sale and is still for sale. I think it is down to $249,000 and hardly anybody looks.
Nothing wrong with condition. He’s even willing to carry with a down payment.
Many parts of the country have properties sitting. It’s not always easy to find tenants in many areas,
even when rent is $300-$500 a month.[/quote]
*Should it be easier for people to qualify to buy who are sketchy on their finances?…..My opinion is, absolutely not.
But my opinion doesn’t matter…And frankly, when a big % of the population can’t qualify for a loan to buy a home…… You know that the government isn’t going to just sit there and not do anything.. You also know that subprime lending is a big business for banks… You know that they are going to be itchy to be loaning @ subprime again to fatten their bottom line. perhaps it won’t be as crazy as before (initially), but you know subprime will be back…The profit motives are just too compelling not to go at it again. Again, look no further than the auto industry… They’re at it again…
Can’t beat them… Join them.. That way, personally I won’t feel so bad the next time….
