*IF* this mega bailout does get approved, US government will either control or own outright most mortgages issued during the bubble. They will be able to offer workout plans, approve short sales, reduce balances, etc. We will see fewer defaults and much fewer foreclosures. Basic tenet of housing bubble bust: prices are sticky, distressed inventory drives down prices. Take away distressed inventory, prices stop crashing. On one hand, it will minimize overcorrection and result in “soft landing”. On the other hand, it will take much longer for the most overpriced areas to normalize.
But who can afford these houses with out exotic financing. The main reason prices increased so quickly was because people could put 0% down and pay interest only. It should be expected that people pony up at least 20%. The government may offer workout plans, approve short sales, reduce balances BUT it all comes down to Joe down the street affording the loan.
But who can afford these houses with out exotic financing. The main reason prices increased so quickly was because people could put 0% down and pay interest only. It should be expected that people pony up at least 20%. The government may offer workout plans, approve short sales, reduce balances BUT it all comes down to Joe down the street affording the loan.
But who can afford these houses with out exotic financing. The main reason prices increased so quickly was because people could put 0% down and pay interest only. It should be expected that people pony up at least 20%. The government may offer workout plans, approve short sales, reduce balances BUT it all comes down to Joe down the street affording the loan.
But who can afford these houses with out exotic financing. The main reason prices increased so quickly was because people could put 0% down and pay interest only. It should be expected that people pony up at least 20%. The government may offer workout plans, approve short sales, reduce balances BUT it all comes down to Joe down the street affording the loan.
But who can afford these houses with out exotic financing. The main reason prices increased so quickly was because people could put 0% down and pay interest only. It should be expected that people pony up at least 20%. The government may offer workout plans, approve short sales, reduce balances BUT it all comes down to Joe down the street affording the loan.
I think that buyers are waking up to paying for an over priced box, I mean house. A house is only worth what someone is willing to pay for it. I have no theory, nor experience, just going on a gut feeling. You maybe be right…only time will tell.
I think that buyers are waking up to paying for an over priced box, I mean house. A house is only worth what someone is willing to pay for it. I have no theory, nor experience, just going on a gut feeling. You maybe be right…only time will tell.
I think that buyers are waking up to paying for an over priced box, I mean house. A house is only worth what someone is willing to pay for it. I have no theory, nor experience, just going on a gut feeling. You maybe be right…only time will tell.
I think that buyers are waking up to paying for an over priced box, I mean house. A house is only worth what someone is willing to pay for it. I have no theory, nor experience, just going on a gut feeling. You maybe be right…only time will tell.
