This morning I opened up my email to find my Active Rain Daily Drop. The title of it was something to the effect of FHA Says Market On Life Support. I laughed my read end off for a good 5 minutes. Can you picture a bunch of high paid gov't analysts sitting around a room, staring at all kinds of statistics, and coming up with what every person in America already knows and has known for years. What a joke.
We all know agents and builders who are working at McDonalds or selling cars or loading trucks at Wal-Mart. Take a look at a graph of home prices in almost anywhere in America. If that was the stock market we would all be living in the streets. Take a look at the help wanted section of a newspaper or on some internet job agency. A huge majority of the real estate jobs are for loss mitigators. By the same token hardly any construction or agent jobs will appear. Here in my town, I have had former builders, with loads of experience coming by my home and asking if they can paint my house, or do a remodel for me.
Right now I could go to Las Vegas or Phoeniz or a long list of US cities and buy a home by simply taking over the payments. Why? The owner is about to lose the thing because he or she is out of work, and/or the home is worth way less than the person owes. Just take over my payments and my headache. I will go rent an apartment until this thing blows over.
Yep. Our government at work. I wonder what the combined cost to we the taxpayers was on this thing. And then to come at us with what every school kid in America, who has half a brain, already knows.
I for one would like my money back.