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I've written on a few real estate threads about difficulty in dealing with the banks on foreclosed real estate. it seems to me that banks aren't that worried about the growing number of empty homes sitting on their books. it also seems to me that they're hiding the numbers.
does the bailout have anything to do with this? how can the banks afford to hold onto so many empty properties? would these properties be forced to auction if the banks weren't bailed out? is the government doing the same thing in the real estate market that they did in agriculture during the Great Depression namely limiting supply to prop up prices? is it fair that so many people are homeless because banks have been given a cushion with which to withold Real Estate from the free market pricing mechanism?
can anyone explain why some members of the republican party went for this including mccain? can the pro bailout crowd please explain why this is a good thing?
Banks are not hiding their OREOs. Banks don't want to own real estate either. Banks are not real estate agencies, and an OREO is an nonearning asset that directly affects the bank's financial condition.
Maybe the banks are glutted with the inventory. Maybe they don't know how to deal with this mess. After all they are not Real Estate professionals they are banking professionals. Modern blight. Let's do this all around the world.
Banks are holding back Real Estate. I have been looking to buy some more property and the amount of foreclosures coming onto the market has dropped significantly. My Realtor has told me that the Banks are now holding inventory back to get better prices on a Govt. Bail out.
Bank of America agrees to halt 2,000 foreclosures in the Valley
Bank of America, which last summer bought the nation's largest subprime lender, Countrywide, has suspended foreclosure notices pending against nearly 2,000 homes across the Valley in the past week in an effort to help homeowners hold on to their property. And relief for even more homeowners is expected to follow
Bank of America agrees to halt 2,000 foreclosures in the Valley
Bank of America, which last summer bought the nation's largest subprime lender, Countrywide, has suspended foreclosure notices pending against nearly 2,000 homes across the Valley in the past week in an effort to help homeowners hold on to their property. And relief for even more homeowners is expected to follow
i have no problem with a bank making a decision with its own money. to prop up prices with tax payer money is immoral. what obama, mccain and most of the establishment fail to understand is that real estate is heavily out of whack and for every homeowner who is underwater there is another who has been priced out of the market. the government needs to allow the free market to price real estate and make housing affordable again.
i have no problem with a bank making a decision with its own money. to prop up prices with tax payer money is immoral. what obama, mccain and most of the establishment fail to understand is that real estate is heavily out of whack and for every homeowner who is underwater there is another who has been priced out of the market. the government needs to allow the free market to price real estate and make housing affordable again.
You think BofA did this with "their money"? Think again
You think BofA did this with "their money"? Think again
i know they didn't that is why i'm so incensed! i have not bought for years because i knew real estate was overpriced and due a correction. i rented and saved waiting for a better opportunity. now the government is not allowing that to happen.
i listen to obama/mccain talk about living wages. the only reason wages need to go up is because they're not allowing prices to come down. i find it really frustrating that renters are being forced out of their homes because their landlord's been foreclosed on. the worst thing about that is that these homes aren't been forced to marklet like they should be. instead they're just rotting away empty!
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