A lot of people are asking what I think will happen in the housing market in 2012. But rather than just give a laundry-list of predictions, I’d like to share my thoughts within the context of steps that different type of readers and clients may be considering. First, a general note on the housing market… [...]
The shadow inventory looms large over all of us. Home prices have already started to slide back down. If and when foreclosures begin to flood the market again, we would be in for a violent few years…but we would come out stronger on the other side.
It’s time to face the facts: There never was a “recovery” by any rational measure. The alleged recovery was nothing more than inventory replenishment fueled by massive and unsustainable government spending waste with additional trillions of taxpayer dollars handed out in bank bailouts.
The plunge in existing home sales shows exactly what happens when free money handouts stop.
The government and lenders say that these failures are due to complexities of implementation, difficulty reaching homeowners and a sundry other things. But what if these programs were never intended to succeed?
The fact that NOD’s are plunging implies that, even by the start of 2011, we still won’t see an increase of foreclosures for sale. The banks and government are committed to extend-and-pretend policies and I wonder how long they can keep it up. It’s already been 23 months…
Bank of America made headlines with its principal forgiveness program. The real news is that they are preparing to blast debtors out of their bunkers of entitlement.
When a program is badly flawed and not working, the rational thing to do is scrap it. Given that HAMP (Obama’s Home Affordable Mortgage Program), is a complete failure, someone thinking clearly would kill the program. Instead, president Obama, acting like the typical bureaucrat, wants to massively expand it. Please consider Obama May Prohibit Home-Loan [...]