How Renters Could Save the Housing Market

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When will people wake up to the fact that the banks caused a great deal of these bad loans and now refuse to loan the money they are sitting on. How can we allow banks to loan illegally and then bail them out ? Now all they have to do is continue to raise fee's so there is no risk at all for them. The banks paid to ruin the equity by giving bonuses to the loan agents and this came from the very top. True house prices could not go up any more and yes we did over build. This is why we have regulations to stop thieves developing scams and industry has dictated to government by lobbiest's handouts. 3500 administrators that worked for Bush now work for private industry. Can you guess which one's ?

DC of CA 11:08AM October 12, 2011

The gov'nt has a bad track record in markets. It has a better record [albeit messy] with law making. Was it Otto Von Bismark who said laws were like sausages. It's better if you don't see them being made. That said, Congress could make it easier for people who make lots of money [many of whom go to school in America] to stay here, buy houses, rent them, open businesses, and employ numerous people who will rent... or dare I say it.... BUY homes. Wow... what a concept. It all seems so practical to people who actually are thinking about their constituencies.
Perhaps we should look for elected officials that actually have a REAL world experience [not political - that's phony] An example would be Mayor Bloomberg in NYC... and then maybe we won't be on the precipice of another Great Recession. Focus on the candidates success [like a hiring manager would] not on their ability to make a speech. Then we would have real demand in markets driven by an undercurrent of economic forces that all the blow-hard politicians will take credit for.
Bottom Line - directed toward policy makers: It's not the government's job stupid! It's business that makes things happen. Set the table for them and get the heck out of their way.
Jack Whealan
SkyTop Builders
www.SkyTopBuilders.net

Jack Whealan of NC 5:47AM October 12, 2011

I follow foreclosures in two Kansas suburban counties near Kansas City. After following over 20,000 over five years; one thing sticks out. The banks, on average, are still bidding over their initial first mortgage amount at the sheriff sales. This means there is no investor interest. If the banks bid the broker price opinion, there would be more interest in the foreclosure properties. This would cut the holding time more than one year, and get the houses into the rental market much sooner. We don't need a fancy new program; just realistic prices.

Dave Solenberger of KS 5:33AM October 12, 2011

Its about time someone started thinking straight. Why should the American dream and the builders and the construction workers and the people who make work clothes and the furniture makers and god knows how many people have lost there way of life because some jack--ses were greedy. Take a look around. We are almost in a revolution. Enough is Enough Fix This Now no more forecosures. NONE

Guy Lolmaugh of IL 6:25PM October 11, 2011

The Federal Govm't has impeded and road-blocked the traditional method for the housing market to 'climb out of the hole', Owner Financing! By their restriction and requirement that mortgage oringination for residential property conform to HUD documentation, requires Federal registration and compliance and adds an additional $600-$1,500 to Owner financed closing costs for the Buyers to pay...even if the loan is held as PRIVATE with NO intent of converting to bulk sales.

Kathleen McKenzie Owen of TX 6:21PM October 11, 2011