More of Obamao’s “fundamental transformation” of America. One thing socialists really hate is private property (except their own, of course).
Wow, you mean having between 45 and 90 million able bodied people out of work might have some negative impacts on our society?
How can this be?????
Obama was going to fix all this inequality, .... home
prices are so low.
I am Shocked! A while back you could buy a home in
Detroit for around a Dollar.
This is certainly change alright, and it’s been over 7 and a half years in coming...............good job to all Obama voters. Haha!
Why own a home, when if you lose your job, you have to spend a fortune getting rid of it to find new work out of state. It can be a huge liability.
You KNOW what’s coming next....
Pressure from politicians for banks to start lending again to homebuyers who can’t repay the loans.
It’s like predicting show in February.
Went over the cliff after Obama took over.
There was a tune when a large percentage of homes built were called “starter homes”. Expandable Capes and/or 5 or 5 room ranches. Bought by young couples who were well able to afford them as the family grew and it was time to move to a larger home.
Entire homes THEN sold for the price of USED cars today.
Further, are any SMALLER homes being built, at any price?
I do NOT believe the problem is a lack of desire, but a lack of ability.
You shovel money to those who, up front, can’t afford them, you end up with another bubble. SENSIBLE young people are watching their finances, and staying away.
but I thought I just heard last month housing starts were predicted to be at the highest level since 1985...
I remember hearing/seeing the story a few times, because I am a tradesman who has several friends who are bankers and we talk about this stuff regularly, and I almost fell out of my chair. I guess “predicted” as always was the disclaimer.
There are more houses being demo’d in my area than are going up, I guarantee you that.
Eff’in Obola’s “Hope n Change” mission near accomplished...
RE: “But, but, but Obama says the economy is great....”
As do all the financial wizards and pension funds managers.
Economy is FANTASTIC! Good time to INVEST!
This will affect home/land prices. Not.
A large part of the problem is bad loans. Another part of the problem is income retrograde. And a final big part is expectations beyond income. The greatest generation were for the most part content with homes under 1400 square feet. The price of 1000 square feet is significantly less than 2000.