6 Ways to Fix the Housing Market

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the government bailed the banks out yet now the banks will not even consider working with the homeowners that want to keep their homes. No offense, I have no sympathy for the homeowners that bought their homes at an exhorbitant price when the market was booming and now cannot afford them. It was their decision to buy a home at that price when it was actually worth that price. In my opinion, it will someday be worth that price again, it is the way of the economy. However, instead of the banks just not working with anyone, why can't they refinance these exhorbitant mortgages for less money a month, but with more months in the mortgage. They get more interest to do whatever they do and the American people get to keep their homes (for the price they agreed to pay). Simple enough to me.

Me of SC 7:40PM January 08, 2012

We have to decide as a country if we either ARE, or ARE NOT a "free market economy". We we are, in fact a free market economy, then the free market should dictate home prices. If the free market dictates that they fall through th floor, then so be it. If, on the other hand, we want to just admit what we are becomming..a Socialist society, then we can go ahead and bail everyone out, artificially manipulate the housing market, bail out companies we feel are important enough to the "state" to not fail etc. We cant, as a country, have it both ways.

glenn of CA 3:19PM June 21, 2011

The only thing preventing me from buying a house here in Los Angeles (Pasadena) is the current state of conforming loan limits. There are 2 components to this (1) the $729,000 temporary limit that expires 9/30/2011 and (2) The congressional continuing resolution that set conforming loan limits to 150% of prices by county. While it's clear the $729,000 limit will end shortly, its unclear if the conforming loan limits will continue to be based on 2008 prices, or will re-index to current prices. In LA county, if indexed to current prices, conforming loan limit would drop to about $525,000 (150% of current $350,000 median prices). A decent 3br/2ba house in my area is $650,000-$850,000 but when conforming loan limits drop, prices will drop in that segment. Buying a house right now in that price range is a seriously risky proposition. While I could put 20% down and afford a non-conforming loan in that price range, most cannot. Why should I risk a $100,000-$200,000 drop in value? I'm clearly waiting until after October 1st to buy a house, but until there is clarity about whether they will eventually re-index conforming loan limits to current home prices, I'll continue to rent..

BillB of CA 4:16PM June 20, 2011

The last stupids that bought the house bubble loosed, the last stupids that bought the silver bubble loosed, the last stupid that will buy the cereal bubble will loose...
Israeli-American billionaires invent one "story" after another, and publish them in their news: they wins what all other looses, because they invent only self fulfilling prophecies, and publish them in their newspapers, that belongs to the billionaires club!
Nothing more is possible against world.com plutocrats!

Jean-Francois Morf, Charrat, Switzerland 12:17PM June 20, 2011

The real solution to the housing market is to let those house prices plummet. When houses are affordable again the people will start buying. Get the government OUT of the housing market.

EnoughAlready of CA 4:46PM June 17, 2011

If you are in a home and want to refinance, 2 things are absolutely key. First, you must have meaningful equity in your home. Second, you must have a good credit score. But in this economy if you do not have both of them still you could get a good rate, Search online for "123 Refinance" they gave me the lowest rate of 3.45% my credit history is not so good.

alvinbrown77 of CA 6:57AM June 17, 2011