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Is the worst over for the housing market?

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NC Appraising

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Apr 28, 2006
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Certified Residential Appraiser
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North Carolina
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"Meanwhile, the S&P/Case-Shiller index of house prices in 20 metropolitan markets fell another 2.1% in November (the most-recent data available) for the 16th month in a row. It was down nearly 8% from a year earlier"

"Like creating a federally funded outfit to buy mortgages that are in or near default and refinance them at easier terms so the borrowers can keep their homes, as Senate Banking Committee Chairman Christopher Dodd is already suggesting. Or helping state and local government agencies buy houses that are in foreclosure and rent :shrug: them out until the housing-market rebounds"m2:

The Government to the rescue!!
 

Terrel L. Shields

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May 2, 2002
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Arkansas
helping state and local government agencies buy houses that are in foreclosure and rent :shrug: them out until the housing-market rebounds
The worst might be over for housing but the worst won't be over for the taxpayer. what a stupid idea. I got a better one. Every outfit like Merrill Lynch who sold CDO's or derivatives should be required to buy a bundle of houses and hold for 5 years. Every CEO for a Wall Street Hedge fund should be made to sit before congress and be presented with a copy of the structure of his own hedge fund(s). He then will have to explain it to the congress in terms a 5th grader (or congressman, which ever) can understand. If he cannot then he has to buy back all the bad bets on that hedge fund....out of his pocket first, then the companies.

How can a market rebound if a ton of rentals is hanging over their head with the fickle government ready to dump them at the moment and changing of the guard from GOP to Demos? Utter stupidity
 

PropertyEconomics

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Jun 19, 2007
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Certified General Appraiser
State
New Mexico
I think the worst is over for the housing market, but more bad is to come and there is worse on the horizon for the economy. Times will get tougher.
 

Lee in L.A.

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California
what a stupid idea. I got a better one. Every outfit like Merrill Lynch who sold CDO's or derivatives should be required to buy a bundle of houses and hold for 5 years. Every CEO for a Wall Street Hedge fund should be made to sit before congress and be presented with a copy of the structure of his own hedge fund(s). He then will have to explain it to the congress in terms a 5th grader (or congressman, which ever) can understand. If he cannot then he has to buy back all the bad bets on that hedge fund....out of his pocket first, then the companies.

:rof:

Love it Terrel. It would be good poetic justice. I guess it will never fly though. Congress already knows they're not smarter than a fifth grader. :leeann2:
 

Riick

Elite Member
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Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
I hear ya........Two wars and trillions of dollars
After the election, they end the War
.... The defense contractors will then do massive layoffs, not to mention their suppliers.
.... and.... "Here's another NICE mess you've gotten me into."
 

Fred

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Jan 15, 2002
Professional Status
Retired Appraiser
State
Virgin Islands
Is the worst over for the housing market?
Maybe, and it would have to go on another five years just to match the "bubble" babble and "meltdown" claims I have heard to date.

they end the War
Funny you should mention that. I was watching the debates the other night and two candidates kept one-upping each other about who could end the war faster. I was wondering: there's a war? There hasn't been anything on the news about it? Who's the war between? :)

Anyway, if there is a war, when all the troops starting spending their paychecks at home, the economy should benefit. Maybe a GI Bill for all those empty houses, they keep telling me about.
 
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