Is the Housing Market Going to Recover?

[sailingsoul]

My opinion is no it won't. Bank losses are guaranteed no matter how little they sell your home for, to their friends, after they throw you out. It seems Republicans and Democrats love socialism for the banks and wealthy when covering their losses with your money. As they did with the bailouts covering hedge fund losses. They are still turning a blind eye and always will, to the massive transfer of wealth they are aiding and benefiting from. It is still continuing full speed ahead. Will people about to lose there houses get help? No they won't, nothing beyond the manipulating rederick from politicians and news outlets. Here is a video (http://www.thinkbigworksmall.com/mypage/archive/1/32275) that shows why the government will not help home owners and how they will move more billions if not trillions of our wealth (removed by taxes) from the citizens to those in their club. SS

[Francesca R]

It already is recovering here (http://www.nationwide.co.uk/hpi/historical/Jan_2010.pdf).

[sailingsoul]

It already is recovering here (http://www.nationwide.co.uk/hpi/historical/Jan_2010.pdf).

If it wasn't clear, I'm referring to houses in the USA and the theft of wealth from US citizens via government (FDIC= people's money) covering bank losses. Because banks will make more money foreclosing ( here in the US), banks have no $$ incentive to rewrite existing mortgages thus preventing foreclosure and saving individuals their home. The video addresses what can/will be a another and continuing huge transfer of wealth, if not stopped or addressed. SS

[drkitten]

My opinion is no it won't.

Of course the housing market will recover. People will still need warm dry places to live, so unless you're planning on installing global weather control, people will still need to buy houses.

Indeed, housing prices have already started to recover (http://mysite.verizon.net/vzeqrguz/housingbubble/), even in the US. Precisely because people still need places to live.

But, seriously, what's the alternative? Housing prices go down to zero and stay there forever?

[Francesca R]

Because banks will make more money foreclosing ( here in the US), banks have no $$ incentive to rewrite existing mortgagesThat's not true. No recourse mortgage laws are fairly unique to the US I believe. And since they give the home buyer a free put option against the lender it was the former group who "made more" (lost less) by walking away from negative equity. In other countries, the buyer is on the hook for the value of their debt, not the market price of their home. This means that banks have less incentive to foreclose in the US than in other countries.

[daenku32]

Another funny article:
U.S. looks to reluctant foreign investors to help fund the housing market
http://www.washingtonpost.com/wp-dyn/content/article/2010/02/15/AR2010021503143.html

The first thing that popped into my head: why would a foreigner invest in cheaply constructed McMansions?

[CORed]

IMO, loose lending practices and inflationary monetary policy caused a bubble in housing prices and an inevitable, though painful correction has occurred. Yes, it sucks for homeowners who now find that they owe a lot more money than the current market value of their house, but any "cure" would be worse than the "disease".

[The Central Scrutinizer]

My opinion is no it won't. Bank losses are guaranteed no matter how little they sell your home for, to their friends, after they throw you out. It seems Republicans and Democrats love socialism for the banks and wealthy when covering their losses with your money. As they did with the bailouts covering hedge fund losses. They are still turning a blind eye and always will, to the massive transfer of wealth they are aiding and benefiting from. It is still continuing full speed ahead. Will people about to lose there houses get help? No they won't, nothing beyond the manipulating rederick from politicians and news outlets. Here is a video (http://www.thinkbigworksmall.com/mypage/archive/1/32275) that shows why the government will not help home owners and how they will move more billions if not trillions of our wealth (removed by taxes) from the citizens to those in their club. SS

You are right. The housing market will never recover. A hundred years from now, my $275,000 condo will be worth about $9,000. :rolleyes:

[Corsair 115]

Housing sales have been doing just fine in Canada. So fine, in fact, the government today announced plans to put into place additional restrictions on mortgages to help cool things down a bit.

[Modified]

If by recover you mean that prices will increase, I believe existing house prices in most places in the US are near historical averages when adjusted for inflation and building quality, so is there really any "recovering" to be done?

Average new house prices in this city doubled from 2008 to 2009. That's because only eight new houses were built in 2009, and they were doozies.

[Slimething]

My opinion is no it won't.

And you are....? :confused:


Here is a video (http://www.thinkbigworksmall.com/mypage/archive/1/32275) that shows why the government will not help home owners and how they will move more billions if not trillions of our wealth (removed by taxes) from the citizens to those in their club. SS

Oh, well, that settles it. You have a video. Here's a video (http://www.youtube.com/watch?v=2g1fr5vk72M)that proves that giant crabs are trying to take over Japan.

[kevinquinnyo]

Oh, well, that settles it. You have a video. Here's a video (http://www.youtube.com/watch?v=2g1fr5vk72M)that proves that giant crabs are trying to take over Japan.

Oh, that's just great. I just bought a bunch of investment houses in Japan. I guess I lose no matter what

[Corsair 115]

Oh, that's just great. I just bought a bunch of investment houses in Japan. I guess I lose no matter what


You think that's bad? Wait until Godzilla and Rodan return to ravage the area. The Japanese stock won't just decline, it'll be crushed under (monsterous) foot.