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What are you basing your analysis on?
With mortgage rates at HISTORICAL lows, and rental rates fairly high, it's kind of a no-brainer that the number of landlords would increase.
Where I live, in my building, prices dropped almost 2/3 and are staying there. No increases. And short-sales have increased. Fewer foreclosures, because they've already taken place.
WTF use us "learning more" if you have no money to take advantage of "opportunity"?
exactly
People knew to leave well enough alone....until the banks and big gov said "hey we gotta facilitate this lending....we don't have fiat money and fractional reserve banking for nothing!!"
So...all institutions involved HAD to make lending more accessible. And what better way to do it?
Again, yet another poster who is behind the times.
The shadow inventory has evaporated in most states and shrunk considerably in the remaining.
While you were moaning and groaning about how "bad things were" the SMART folks were taking advantage of the low prices and turning them into income generating investments.
Ken
??? by your standards, poor people cannot be smart, WTF?
No, but I'm one of them who SOLD his home in Seattle so we could FINALLY move to Arizona - and I wasn't one of the folks moaning and groaning about the housing market. I was watching it rebound in Seattle and was planning on putting our house on the market in March. As it turned out I got a very good offer on the house before I even had a chance to list it - with THREE agents calling us in 1 week asking if we were interested in selling our house - and the very first person who looked at our house made us an offer for the price we had in mind. So I KNOW what the housing market is doing, and now we are away from cool gray Seattle (though it's not so cool or gray today apparently) and settled in warm sunny Arizona.
Life is good.
Balfor is distorting the situation. Lots of "smart folks" found themselves holding white elephants. And sitting for years hoping to make SOMETHING on their investments. Abe Lincoln was probably smarter than most of us and poor. JayZ was definitely better at business, at least. Brains and prosperity do not in any way automatically go together. The executives at Enron were some of the blindest stupidest people alive and bankrupted all who trusted them. And Arthur Andersen, supposedly full of smart people, just helped grease the skids.
In some cities the crisis is over and the boom is back complete with bidding wars.
Now in some city sub forums you see the "OMG" as homeowners get their notice of appraisal and proposed 2013 taxes with double digit increases.
those homeowners should be grateful they own their home, and stop whining. Would they prefer to pay up the wazoo to rent? Didn't think so.
Bascailly it waqs setup when thery started Fannioe and freddie plus dwon payment assistance and even closing cost assistance. governamnt wanted to makig homeownersip affordable for the poor.bascially there really was any other way than adjustable rate which is pretty much what mortgages are like i UK and many other countries. The scam came in i underwrittting but it took the buyers to really do it by falsified income statements they signed.At the time mnay thought the worse that could happen was refi l;ater or sello at profit. Barney frank even frefuse audit of Fannie said we could always "bail them out" which we are still doing.It was like no one knew it was just greed to creat wealth thur hosuing ownership which appreciated greatly.The real losers are those who loss home purely fro losig their jobs with downturn a caused by the greed from washinton to wall street to main strteet.
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