As you may know, our government has created many programs to aid homeowners in keeping their houses. This includes loan modification and requiring banks accept short sales.
So, how's that working? Well, the latest report show that foreclosures have increase by 51%. Many talking heads on the financial networks and many so called "real estate gurus" said the bottom was here or very near. We did not stick our heads in the sand and believe the garbage they were spewing forth day after day. We knew the worst was to come and that real estate was not going to be improving anytime soon.
So, the bottom is really here now with the latest figures? Have the real estate gurus considered the 7.9 million homes that will have to come to market?
Do you think that will help real estate price improvements. That's like trying to swim upstream with a lead weight around your neck. It ain't gonna happen!!
Oh, let's not forget, the market is signaling that interest rates are going to move higher. Just another stone around the neck!
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