[quote=sdrealtor]Why is it ok for the government to manipulate things to the benefit of the public sector workers but not the housing market? Let’s rip off the bandage and let the bleeding begin so we can make some meaningful headway in controlling run away government spending. Some big cities need to fail so we can create a better more sustainable system. If its ok to let housing values crash it’s ok to let public pensions crash also. You can’t have it both ways[/quote]
You must admit that housing was never allowed to truly “crash.” The GOV has and is propping it up with numerous “machinations” that favor debtors over savers and the irresponsible and stupid over the wise owners and renters who plugged along for the duration of the “bubble” and kept their heads down.
Thus, the housing bandaid was never really “ripped off” and the housing market was never allowed to properly heal.
I think the “price upholding” today that you are seeing is the result of a dearth of available inventory, stemming from the “head-down” owner-types not wanting to market their properties in competition with the ignorant and debtors (or both in the same pkg, lol) who were/are able to “short sell” their way out of their debt.
And rightly so. There is a HUGE difference between a seller who will satisfy all trust deeds they signed and one who will not (or an institutional seller). When the “head-down” types (with integrity) finally decide to sell, they won’t be asking for “debt forgiveness” for past financial transgressions (caused from living beyond one’s means).
