Is it too late to fix the housing crisis? I don't think so.

[Powers McCall]

It isn't too late to fix the housing crisis but until we do, we cannot improve the job market one little bit. I wanted to write about the plan for preventing the housing crisis, but no one seem to understand at that time, the lasting and devastating effect it was going to have in 2005. Some have written about it and clearly these books are rubber stamped. I put it all over my website, just to the American people could read it because clearly the administration did not want the problem fixed until they had met 2/3 of their agenda. They are almost there and still the American people, although some have tried, cannot stop this. What is your thought? Should I write the book or call it quits. It was titled, Not in my backyard Mr. Lender and talks about how the lenders victimized the American home buyer and then sent them to the gates of hell when they were left having to deal with the loan servicers. Forget all that junk about swaps and derivatives, it was not a real player, because without one, the loan, there could have been no swaps, etc.

[Shadow_Ferret]

There's a housing crisis?

[icerose]

It's already turning around. The lending has started again, new constructions have begun, sales have started to increase, the practices that brought everyone down this path have mostly been corrected. Will houses be worth what they were at the peak? I sure as heck hope not because they were far too high and overbloated. The bubble burst, the dust has settled and now we're finding a new stable norm. Can we repeat the past mistakes and have this happen again? Absolutely, will we? I hope not.

[Shadow_Ferret]

Will houses be worth what they were at the peak?

Well, I hope so, because now I owe more on my house then it's worth, just as we got to the point where we owed less.

I wonder if we need GAP insurance like we did on our new car when we owed more than it was worth?

[Joe270]

The bubble burst, the dust has settled and now we're finding a new stable norm.

Until the banks release the 'shadow inventory', then the dust hasn't settled. They have choked the market by holding back houses.

If builders start building houses now, they're bound to get screwed.

The market is near bottom, yes, but it's not settled and it's not recovering yet.

[Plot Device]

Too few buyers chasing too many houses.

The only "fix" to that problem is to get rid of the excess houses. Either that or "create" more buyers. And one way to "create" more buyers is to relax lending standards so that a greater percentage of the overall population can qualify for a house loan.

Oh wait. We already tried that.



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