The real culprits in this economic meltdown are the same fools that are pretending to know how to fix it.
They are children that looted the candy store, sold the candy to their friends, and pocketed the money…
Now they got caught.The store is bankrupt. They want to blame everybody else EXCEPT THEMSELVES for what went wrong.
Blame the landlord, the security company, the manufacturer, but the child bandits are now in charge of investigating the crime. Now they are stealing money to give to their friends who no longer have a source of dirty income or candy.
The change in appraisals is saying that appraisers were responsible for the housing mess. There is only a sliver of truth in that. A dishonest appraiser is still dishonest.
This will ruin the careers and incomes of honest appraisers. If an appraiser has been in business for 10-20 years and has dozens of banks or brokers sending them business, that stops completely on May 1st…
An appraiser with 8 employees recently told me that he is done, and 8 appraisers will be out of work. He will not get enough orders to keep them busy.
In the end, it will harm consumers, financially ruin most appraisers, and only benefit the management companies who have just been handed a govt contract.
Orders sent through management companies will result in apparisaers receiving about 50% less income per job, and fewer jobs.
It might appear to some people that the govt is doing the right thing , it’s typical BS spin that foolish America falls for.
Once again the blame is deflected to spare the guilty… HLS
