Foreclosure Turnaround
When property price in US turnaround?
No more foreclosure. When will it recover? Global property markets are waiting for that.
About five years (if your an optimist). . . housing prices won’t recover until liquidity recovers . . . liquidity won’t recover until housing prices recover . . . and then factor in employment or unemployment, the Texas Fed came out last week and said it will be a full five to seven years before the US returns to full employment.
And if your really wonkish . . . factor in interest rates which must rise to entice the bond holders needed to cover our deficit which is expected to triple over the next ten years. High interest rates have a negative affect on price . . .
And then look at the overall ineffectiveness of government sponsored homeowner bail out programs (disaster) and consider that the largest round of mortgage resets HAS NOT YET OCCURRED and will be happening late 2010 early 2011 . . . that’s right, it will be worse than what we saw in 2008 . . . your right back where you started from except this time the US does not have the money for another bail out . . .
Obama Fails Foreclosure Victims
