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Realtors’ worries

Massachusetts Realtors are getting nervous about Fed plans to stop propping up the housing market. It looks like a major lobbying campaign is about to commence.

Clearly, the feds can’t keep funding all these mortgage securities and tax incentives. But at least one economist in the article says it might be a bit too early to end them now.

What do you think?

Read other posts about: real estate and the economy

Posted by on 01/26/10 |
| Read 2 Comments »

2 Responses to “Realtors’ worries” »»

  1. rich
    Comment by rich | 01/26/10 at 7:24 am

    Personally I am much more concerned about the Federal Government going bankrupt trying to fix the financial meltdown. Unfortunately, I think we have already passed the point of no return. The Federal Government simply doesn’t have the needed financial resources to undo all the financial bubbles that are now popping around us…….

  2. Funny
    Comment by Funny | 01/26/10 at 7:42 am

    The key is to slowly turn off the valve, not abruptly stop it. I have faith that the administration knows this.

    Investors and DOW traders will throw a hissy fit any time the government tries to deflate a bubble. It’s what they do. Screw them, they’re the ones who got us into the mess in the first place. Home prices won’t be rising and they won’t be seeing their pre bubble returns for some time, and will have to deal with it.

    I heard a thing on NPR this morning about refinancing and how a homeowner who’s 300K house was now values at 130K and can’t make payments. He’s getting the option to extend his 30 yr variable to a 40 yr fixed, drop his payments in ½, and stay in his house but is pissed because the amount owed, when all is said and done, is going up ~100K.

    That’s a damn good deal IMO if your house is you home and you don’t want to lose it, which is where he was headed. That’s the whole point, not to bail out your irresponsibility, but to keep the roof over your head. He was the one who bought into a overvalued home, spread his finances thin, and now has to eat the bloated value he paid.

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