Real Estate News Clippings

Here is list of recent articles related to our Housing Market.

The Next Real Estate Boom
November/December | Washington Monthly | Patrick C. Doherty and Christopher B. Leinberger

Wells Fargo Case Belies Claim It Always Verifies Mortgage Paperwork
October 22, 2010 | ProPublica | Karen Weise

How Fannie and Freddie Became a $363 Billion Liability
October 22, 2010 | The Atlantic Wire | John Hudson

Lawyers got it right on the foreclosure mess
October 22, 2010 | Washington Post | Eugene Robinson

Top Corporations Aid U.S. Chamber of Commerce Campaign
October 21, 2010 | The New York Times | Eric Lipton, Mike McIntire and Don Van Natta Jr.

The Monster: How a Gang of Predatory Lenders and Bankers Fleeced America
October 22, 2010 | Alter Net | Michael Hudson

Fannie, Freddie May Need $215 Billion More in Aid
October 21, 2010 | Reuters | Al Yoon

Battle Lines Forming in Clash Over Foreclosures By Gretchen Morgenson
October 20, 2010 | The New York Times | Andrew Martin

Comments

[Hard Facts]

Well, all I can say is buyers are demanding lower prices (not a few percent but more like 30%) because they don't want to pay for the decade that people used their homes equity as a line of credit. How many billion did they drain out of home equity that was spent on non appreciable assets (irresponsible spending)? You'ld be sick if I told you!

Homes inflated way more during the bubble than any reductions seen in the last couple years, and buyers know this. Homes are still way overpriced. Buyers do not want to buy a home today that will lose value tomorrow. And, they are becoming educated to the fact that high price mortgages with low interest rates are unhealthy over the long term. As interest rates increase (which they will in the next decade) this will put downward pressure on home values further stymieing any equity building.

Yes, it's a tough situation. But, in all fairness, people used their homes as an investment vehicle and gambled. They also bought throughout the bubble at prices they had no business (irresponsible) accepting. They thought prices would never stop appreciating, and wanted a piece of the easy money (appreciation) action. Now they are crying because their real estate agents can't sell them for the over the top prices they are wanting/needing.

However, I don't feel sorry for the real estate agents. How many buyer's agents guided their clients into multiple bid situations, and unrealistic prices, that with their credentials and expertise should have ethically known better? Answer this yourselves!