Well, at least we are finally realizing that the solution is to FORECLOSE! Let’s kick all the people out who cannot afford these homes. The sooner we can bit the bullet and remove all these people hanging by a thread (who will eventually default anyway) the sooner we can MOVE ON! The sooner prices hit a level in sync with current economic fundamentals, the sooner people will feel confidence to re-enter the market..the sooner things will stabilize.
A recovery in the Real Estate market will mean overall consumer confidence will improve with it as well.
Kicking this can down the road will just mean years of stagnation!
