The LA Times is reporting that the “rebound in home prices continues,” this is their real estate market forecast.
Allow me to ask a rather dumb question: How can there be a rebound in prices, when some people haven’t paid on their mortgage for 15 months, and they are living for free in their home?
News Flash: This recovery is not even close and it won’t be until we solve the basic problem of supply and demand. When a bank does not take back a home (because taking back a home is worse than them not receiving payment) it is not solving the problem, just delaying it.
Think about it with your own finances. Assume you have $15,000 in credit card debt, and decide to stop paying one bill. Does it put you in a better position financially? Not exactly, it just delays the inevitable.
When the government stops trying to “control” the bad news, then, and only then, will the real recovery start. What do you think about this Real Estate Market Forecast?
Why am I right or wrong? Tell me below.
I think you are dead right. Unfortunately our current lack of leadership, i.e. Washington, would rather continue the lie rather than fess up and begin any form of recovery or accepting any form of responsible leadership. The market will continue to fail as long as these lies are perpetuated and the American people continue to fail to respond to the crap of our current leadership.
Where is the bottom of this cycle? Recession? I think not, does it not have many earmarks of Depression??? All that will get hidden in the “one world government” and the move to one world currency. Where did all the money go, the Trillions the Feds GAVE the mis-managed banks with one page notes, no controls? WHY did the Feds MAKE the banks take that money? Maybe one clue how devalued the money of America REALLY is…and a last ditch attempt to pump up some recovery??? Mysteries that lies in the Federal Reserve, world money market system, not the culture and economy, purpose, plan for this country that caused it initially to be great! This forum is about the Real Estate Market…well people who can pay now are defaulting on mortgages because the houses are devaluing so much, so a major clue the bottom of this RE market is not yet in sight…in fact I know people who lost their homes, stayed in them, and now may buy them back hugely discounted, no rent for the time they stayed. Do you know about the Debtor Prisons being built, the plan of the Feds to round us up and place us in FEMA camps when we move past lack to pay mortgages to lack for food, and availability of utilities…basic resources? Radical thought? THINK!!!Living in a house not paid for is a luzury to what is coming IF WE DO NOT WAKE UP AND BECOME 100% responsible to LIVE IN FREEDOM, SELF RESPONSIBILITY, HEALTH AND BALANCE in our ECONOMY. Let’s make our OWN MONEY and barter amongst those who want to build this country instead of just living off the systems that have developed….who do you really think is paying for all that is “from the gov system”? Our forefathers…YOU…and God help the children! And what a mismanaged business our gov is, with the leaders giving themselves top benefits for life, even if serving only one term! (Did you know THAT?) Look in the mirror, nothing is FREE…what are you going to do to heal America? As Martin Luther King said “Freedom is a very, very expensive thing.” May our great leaders appear and lead! May they live to lead us out of our wilderness journeys of stuff and “me, me, me”…entitlement, self focus to “a greater good”….”Ask not what your country can do for you, but what you may do for your country!” Starting with seeing and telling the truth of the mess we are in and being willing to pull up your boots and walk through the muck to set the turn around into place..a great beginning! With a firm foundation in place, what can the creativity of the America of old bring to bear that makes us VICTORS vs living in the paralyzed Victim mentality of all afoot these days? What a unique concept from old!to WANT TO PROSPER so helping others comes not from sacrifice only but out of ABUNDANCE, healthy self actualization, living! Getting to where we need to be will be a miracle, time to rescript the whole mind set, culture of America re money, possessions, needs vs wants, and living not for self (let the gov help others) and in community, society, in health as a nation in our own boundaries…may we humble ourselves to our God and in service to one another to heal our nation….
Howdy Philip: I think you are spot on, keeping the truth from voters, sucks! And the Govt wonders why people no longer have any faith in them…duh!
According to a business seminar I attended last week, it is going to get worse in 2011, possibly then begin to get better in 2012, but many more defaults and foreclosures will occur. Thanks, Tom
you are so very right the gov. needs to get out of it and let the real truth be known to the public and not all of the BS the gov. wants us to thinkwhat is true to cover there oun ass