Government, in collusion with the banks are doing everything to keep main street real estate prices from going into free fall. With a stagnant economy, and slow or next to nothing job growth, what do you think is going to happen to real estate? 21% of home owners in FL, NV & MS live in their homes without paying rent. Can you imagine half of the country living rent free? Banks no longer can handle the tsunami of mortgage defaults so expect more banks to stop the foreclosure process. In the end, the the market will win. WE MUST see lower home prices and rental costs! The current stagnation is only hurting the responsible Americans that continue to pay their ULTRA HIGH mortgage payments and those like me, waiting on the sideline for an inexpensive place to lay my head.
The recession is clearly not over, at least when it comes to the United States' inability to protect its citizens homes. Americans continue to lose their homes and foreclosures continue to rise, who is to blame for this crisis? Many people have said that the banks are to blame for fraudulently processing financial documents. George Hemminger the founder of Survive and Thrive TV believes the US Federal Reserve is to blame for this "Wall Street engineered collapse" because it injected too much liquidity into the market.
Home / the foreclosure crisis / The Lender-Wall Street Foreclosure Consiracy
http://surviveandthrivetv.com/the-for... Well it looks like the massive fraud perpetrated by Wall Street and lenders who package, securitized and sold their loans is finally getting the attention of the main stream media. Only this time if they follow "the rule of law" they would bankrupt all the major money center banks on Wall Street. And of course "the rule of law" was the reason why the federal government refused to force lenders to write down loans to current market value if the homeowners promised to stay in their home and make payments for 3 or 5 years.