The Collected Works of Author and Blogger Larry Roberts

Archive for August, 2010

We have been waiting almost 18 months for the government to allow housing prices to fall to their natural market-clearing levels. First, the Federal Reserve lowered interest rates and directly purchased mortgage-backed securities, then the federal government began providing tax incentives and credits to further prop up prices, even California got into the tax credit act. And for what? Prices are still going to fall. July Existing-Home Sales Fall as Expected but Prices Rise National Association of realtors -- Washington, August 24, 2010 Existing-home sales were sharply lower in July following expiration of the home buyer tax credit but home prices continued to gain, according to the National Association of realtors®. Notice how carefully the NAr spins this disastrous headline. First, they fail to mention that the…[READ MORE]

With election season gearing up, politicians are seeing what voter groups they can buy off. Apparently, the unemployed homedebtors are a significant voter block this time around. U.S. Plans More Aid for Jobless Homeowners By DAVID STREITFELD Published: August 11, 2010 In an acknowledgment that the foreclosure crisis is far from over, the Obama administration on Wednesday pumped $3 billion into programs intended to stop the unemployed from losing their homes. So what has he done to provide aid to unemployed renters? Unemployed loan owners already get to squat in relative comfort, eat three meals a day, and surround themselves with creature comforts whereas renters double up with friends or sleep in their cars. Yet, despite this obvious unfairness and disparity of…[READ MORE]

Some people ain't no damn good. You're going to meet some of them in today's post. For those of us who didn't participate in the housing bubble, no good deed goes unpunished. I have been the whippin' boy for kool aid intoxicated fools who can't deal with the inconvenient truths I display on a daily basis. I've had that pleasure for years and years. Second best is all we seem to get by playing by the rules. Irresponsible homedebtors get loan modifications, no-interest loans, and principal forgiveness, and we have to pay for it! And the irresponsible get to walk away from their debts with no repercussions, and many don't think they did anything wrong. They're victims of circumstance so they say. Everyone else did it,…[READ MORE]

Every homeowner loves their property. As the foreclosures pile up and homeowners are forced into a life of rentership, many will come to question their love affair with homeownership. Was it really about owning the home, or was it about having their own private ATM machine? Whatever the reason, these properties are a source of pain, and may just want the pain to end. Apartment Rentals Hit Record Highs in 2010, as More Americans Shun Homeownership by CHRISTINE RICCIARDI -- Friday, August 6th, 2010 The National Multi Housing Council (NMHC) reported results of its latest Quarterly Survey of Apartment Market Conditions Friday, stating the industry is on the rise, improving in all four indices surveyed and setting an index average record for…[READ MORE]

When the Clash wrote their smash hit about a relationship on the rocks, they had no idea they would be speaking to the fortunes of millions of homeowners in the aftermath of the housing bubble. The question posed by this song, "Should I Stay or Should I Go?" is on every struggling homeowner's mind. If they go there will be trouble, but if they stay it could be double. With the fate of so many borrowers now in the hands of their lenders, most just want to know, "Should I Stay or Should I Go?" Many Bay Area homeowners in real estate limbo By Sue McAllister and Eve Mitchell Posted: 07/25/2010 12:01:00 AM PDT Updated: 07/25/2010 07:18:28 AM PDT Tens…[READ MORE]

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