As real estate sales spiral to new lows – we have the election season in full swing. Everybody is right and everybody else is wrong.
But I hope our newly elected officials wake up and realize that AS THE HOUSING MARKET GOES – SO GOES THE ECONOMY. It’s not just about job stimulus – it IS about fixing housing and it won’t happen overnight.
Banks needs to reward GOOD borrowers with better rates in an upside down market. Banks need to AGREE to short sales where they will actually MAKE MORE MONEY than going through the lengthy foreclosure process. Someone needs to start thinking about solutions instead of highlighting the problems that seem unsolvable.
May sanity reign and may we change the course of this country for the good.
Read the following New York Times article: http://www.nytimes.com/2010/10/25/business/25short.html?th&emc=th