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Do you Believe the Hype: Housing Recovery Still Illusive

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Mortgage Professional America | 26 Mar 2012, 12:20 PM Agree 0
Housing was charging back. Spring sprung early. Sentiment among home builders doubled in six months. Any talk that the fundamentals might not be supporting the sentiment was met with harsh criticism. And then suddenly it wasn’t.
  • ottfive | | 26 Mar 2012, 08:21 PM Agree 0
    hype, propaganda need I say more? Give the real facts!
  • Stan Brody | | 26 Mar 2012, 10:17 PM Agree 0
    There can, nor will be any sustained recovery until the housing crisis is properly addressed... HARP2 will end up proving to be a gross failure... with some 20 plus percent of ll homes sitting with negative equity, even if this program reaches its entire three year "projection" (prayer) it will not amount to a pimple on the ass of the crisis...

    ONLY massive across the board, encompassing all lenders, not just Fannie and Freddie, incorporating Mark to Market from the lenders, tax and cash credits from the treasury and the homeowners waiving the mortgage interest deduction (to pay back the mortgage) as well as resetting real estate tax rates to the date of the original mortgage has a chance of truly stabilizing housing... with an aggressive program along these lines, there will be no true recovery before 2022... the numbers are far to big for the market to absorb these numbers...
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