[quote=Nor-LA-SD-guy]Being that the only way they can get the Local Gov’s to recover would be to get home prices back at peak pricing so they can collect the property tax etc back to where it was in 2005/6 (that’s what they are basing their required revenue on). And that’s where it would need to be to get the economy unstuck. (just letting it fall/correct would not get you there I am afraid, you would still have to deal with the State/city bills).
The only way I can see that happening is either time (about 5 to 7 years just my guess) or find some way to give everyone (other than city and state workers) a 50% raise (not likely either).
Just my two cents.[/quote]
Well, I’m just curious, forgetting the down payment, what if rates are so low, that monthly payments on a 30 or 15 year fixed are actually as low or lower than your typical rent prices? I think that would bring out some sideline folks…
The next thing though, is what about down payment? Well, what if that was somehow subsidized? Seems like a win win win situation to me for fed/state/banks at the expense of the rest of the folks paying for such subsidies.
Just saying, because at this current situation, I really am starting to think anything is possible…..
And I guess folks that’s been waiting since 2004/5 are going to be a little more peeved….(Sorry…I’m just the messenger…)
