So Much For "The Market"
#1
OUT OF HOUSE HOME 
Forget affordability. Availability is the problem, and a solution won’t be coming soon
By Greg Stiles
Mail Tribune
The inventory of houses for sale in Jackson County declines monthly and the rental market is tighter than ever.

<Snip>


http://medfordmailtribune.or.newsmemory....FNYVBxTXls=

Sometimes "The Market" simply does not work. Remember the GI Bill that provided low down payments to working folks allowing them to purchase a mortgage and start building equity? 

We also remember "the bubble" when sleezy lenders and slick buyers with little ethics drove the housing market crazy. THAT we don't need, but responsible people on both sides of the transaction could solve this. 

"The Market" alone is going to keep a lot of people out in the cold. 

Yeah, I'm a LIBERAL. I think there is a time and place for government and industry to work together to solve common needs. 

The time is now.


EDIT: Okay...I don't know why the link above didn't work. Just one of a million things I don't know. 
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#2
(12-18-2016, 10:31 AM)Wonky3 Wrote: OUT OF HOUSE HOME 
Forget affordability. Availability is the problem, and a solution won’t be coming soon
By Greg Stiles
Mail Tribune
The inventory of houses for sale in Jackson County declines monthly and the rental market is tighter than ever.

<Snip>


http://medfordmailtribune.or.newsmemory....FNYVBxTXls=

Sometimes "The Market" simply does not work. Remember the GI Bill that provided low down payments to working folks allowing them to purchase a mortgage and start building equity? 

We also remember "the bubble" when sleezy lenders and slick buyers with little ethics drove the housing market crazy. THAT we don't need, but responsible people on both sides of the transaction could solve this. 

"The Market" alone is going to keep a lot of people out in the cold. 

Yeah, I'm a LIBERAL. I think there is a time and place for government and industry to work together to solve common needs. 

The time is now.


EDIT: Okay...I don't know why the link above didn't work. Just one of a million things I don't know. 
We also remember "the bubble" when sleazy lenders and slick buyers with little ethics drove the housing market crazy.

Well I think you are correct that sleazy lenders drove the housing market crazy. But someone somewhere changed the regs so they could.

Back when I was looking to buy a home NO ONE would sell me or anyone else a house they couldn't afford.That's simple common sense.
But that all changed when lenders realized they could sell a house to someone and even if they couldn't make the payments they could still profit.
Maybe I'm looking at it too simply but in my own humble opinion that's when the house of cards started falling.
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#3
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#4
(12-18-2016, 05:46 PM)tvguy Wrote:
(12-18-2016, 10:31 AM)Wonky3 Wrote: OUT OF HOUSE HOME 
Forget affordability. Availability is the problem, and a solution won’t be coming soon
By Greg Stiles
Mail Tribune
The inventory of houses for sale in Jackson County declines monthly and the rental market is tighter than ever.

<Snip>


http://medfordmailtribune.or.newsmemory....FNYVBxTXls=

Sometimes "The Market" simply does not work. Remember the GI Bill that provided low down payments to working folks allowing them to purchase a mortgage and start building equity? 

We also remember "the bubble" when sleezy lenders and slick buyers with little ethics drove the housing market crazy. THAT we don't need, but responsible people on both sides of the transaction could solve this. 

"The Market" alone is going to keep a lot of people out in the cold. 

Yeah, I'm a LIBERAL. I think there is a time and place for government and industry to work together to solve common needs. 

The time is now.


EDIT: Okay...I don't know why the link above didn't work. Just one of a million things I don't know. 
We also remember "the bubble" when sleazy lenders and slick buyers with little ethics drove the housing market crazy.

Well I think you are correct that sleazy lenders drove the housing market crazy. But someone somewhere changed the regs so they could.

Back when I was looking to buy a home NO ONE would sell me or anyone else a house they couldn't afford.That's simple common sense.
But that all changed when lenders realized they could sell a house to someone and even if they couldn't make the payments they could still profit.
Maybe I'm looking at it too simply but in my own humble opinion that's when the house of cards started falling.

We bought our first house in 1998 and it was either 10% down with fha or 20% down with a conventional loan that's it no magic. Our second house we bought in 2002 we could have magic loans no money down buy a house that was three times what we could afford all with the guise of being able to turn it before the back payment was due. We opted for a conventional loan plain and simple with a very little bit higher interest rate.
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#5
(12-18-2016, 08:27 PM)orygunluvr Wrote:
(12-18-2016, 05:46 PM)tvguy Wrote:
(12-18-2016, 10:31 AM)Wonky3 Wrote: OUT OF HOUSE HOME 
Forget affordability. Availability is the problem, and a solution won’t be coming soon
By Greg Stiles
Mail Tribune
The inventory of houses for sale in Jackson County declines monthly and the rental market is tighter than ever.

<Snip>


http://medfordmailtribune.or.newsmemory....FNYVBxTXls=

Sometimes "The Market" simply does not work. Remember the GI Bill that provided low down payments to working folks allowing them to purchase a mortgage and start building equity? 

We also remember "the bubble" when sleezy lenders and slick buyers with little ethics drove the housing market crazy. THAT we don't need, but responsible people on both sides of the transaction could solve this. 

"The Market" alone is going to keep a lot of people out in the cold. 

Yeah, I'm a LIBERAL. I think there is a time and place for government and industry to work together to solve common needs. 

The time is now.


EDIT: Okay...I don't know why the link above didn't work. Just one of a million things I don't know. 
We also remember "the bubble" when sleazy lenders and slick buyers with little ethics drove the housing market crazy.

Well I think you are correct that sleazy lenders drove the housing market crazy. But someone somewhere changed the regs so they could.

Back when I was looking to buy a home NO ONE would sell me or anyone else a house they couldn't afford.That's simple common sense.
But that all changed when lenders realized they could sell a house to someone and even if they couldn't make the payments they could still profit.
Maybe I'm looking at it too simply but in my own humble opinion that's when the house of cards started falling.

We bought our first house in 1998 and it was either 10% down with fha or 20% down with a conventional loan that's it no magic. Our second house we bought in 2002 we could have magic loans no money down buy a house that was three times what we could afford all with the guise of being able to turn it before the back payment was due. We opted for a conventional loan plain and simple with a very little bit higher interest rate.

Good choice, OL! 
You understand of course, that millons of folks made BAD choices, encouraged (sometimes pushed) by real estate people and banks gripped by greed. AGA was there to cover them but had neglected to put the necessary funds aside. The banks were overextend to a fault! And the federal regulators responsible were asleep at the wheel. 

And our economy crashed. 

Our capitalst system is (like often said) is not all that great but far better than any other system we know of. The key, now and always, has been that capitalism without the people's oversight (government) will run wild and boom and bust in cycles that destroy the stability of society to flourish 

You did the right thing. Other did not. And our regulator agencies failed us miserably. 

We now have Dodd-Frank. But, it needs LOTS of work to become viable. We can only hope and pray for it's success. 

Let the markets be free...and make sure we have reasonalbe oversight to control the greed that can corrupt them. 

You did the right thing. Many of us did. But greed is an ugly motivator and we need regulations to prevent it's damage.
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