12-31-2008, 11:12 AM
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CC Member
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Join Date: Oct 1999
Location: Bismarck, North Dakota, USA,
Posts: 920
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Not Ranked
Quote:
Originally Posted by 427 S/O
The housing mess will fix itself, I don't see any remedy except time. Half the folks who received help with their 'readjusted to a more affordable mortgage', have defaulted!. The folks that were evicted are now renting, they will buy again, only this time, a home they can realistically afford. Also, hundreds of thousands of newleyweds are, and will be buying homes. IMO....
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Perry,
Very true. I'll adjust itself. I guess a better term for fix-housing would be stabilize-housing, anything that will stabilize the transition in a less traumatic manner would be welcome ...as long as it didn't make matters worse.
Contrary to the sub-prime, a lot of good responsible folks, that only wanted to follow the expected and necessary path to one home, are facing eviction on this holiday. I feel for them. The "at worst" extent must be very bewildering for them.
Quote:
Originally Posted by cobra de capell
It's a group of builders/developers - more than likely the same group that overcharged people for housing in the first place - keep in mind that all the money lost relating to house values was money paid to builders and developers - some of them still have that money!
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Precisely. Follow the money. A product is worth what the market will bear. Prices, including subcontracters that actually do the building, are still overheated in my area. I've encouraged co-workers to delay re-modeling projects on the assumption that bids will drop dramatically
in the near future. I remember the early 1980's well.
Wes
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