tag:blogger.com,1999:blog-8586513.post1360518137675838889..comments2024-03-03T22:01:12.376-06:00Comments on Pensacola Beach Blog: The One Sentence Solution for the Housing CrisisBeach Bloggerhttp://www.blogger.com/profile/16153908891922140526noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-8586513.post-74541330431974628672007-12-25T08:11:00.000-06:002007-12-25T08:11:00.000-06:00While the “One Sentence solution” sounds interesti...While the “One Sentence solution” sounds interesting, I can see how even more people could be hoodwinked by crooks taking advantage of desperate people. I do see some benefits but I also see many pit falls. Making loans assumable has merit, but no one want to assume a high interest rate loan. Adjustable rate loan increases is why many owners are being forced to sell or run. <BR/><BR/>The problem certainly has it roots in the lending sector but let’s not loose track of the fact that no one was complaining about the mortgage industry when the real estate market was headed up.<BR/><BR/>In fact, many people knowingly purchased homes that they knew they could very marginally afford or could only afford until their rates adjusted up. Some people planned to sell before their rates adjusted up and reap the appreciation dollars. Others speculated that even if it turns out they could not afford the house they could always turn round and sell it at a profit, right? Wrong, this is speculation or gambling that real estate prices will always go up!<BR/><BR/>There were many people that received loans based on stated income, no documentation required. In many cases buyers abused this.<BR/><BR/>Some where along the line our homes have become a speculative investment based on short-term, shortsighted goals. And now these same people want to be bailed out or allowed to just walk away from their bad investments. <BR/><BR/>There is plenty of blame to go round; the Feds, regulators, mortgage brokers, and buyers. It seams that no one thought the boom would end; almost no one saw it coming. In 2004 if you were to say this was a <A HTTP://WWW.GIBBONS-REALTY.COM/PENSACOLA-HOME-SALES.HTML” HREF="”" REL="nofollow"> housing bubble </A>, people would have thought you were crazy!<BR/><BR/>Real estate is still a great long-term investment, even more now that it was in 2005! Unfortunately, many folks have discovered that speculation is risky business and you can loose your shirt if you are not careful.<BR/><BR/>The solution is; time and prudent lending practices.<BR/><BR/>Please see <A HREF="”" REL="nofollow" HTTP://GIBBONS-REALTY.BLOGSPOT.COM”>my blog</A>Pensacola Top Real Estate Agenthttps://www.blogger.com/profile/10251557086895987065noreply@blogger.comtag:blogger.com,1999:blog-8586513.post-77069700332317370972007-12-15T22:45:00.000-06:002007-12-15T22:45:00.000-06:00wutsua and anonymous need to get a grip, start you...wutsua and anonymous need to get a grip, start your own blogs.<BR/><BR/>Wickes is shit, and Obama is better than Bush. Get over it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8586513.post-23700021695758288152007-12-14T23:17:00.000-06:002007-12-14T23:17:00.000-06:00Obama should adopt this plan. It helps middle clas...Obama should adopt this plan. It helps middle class homeowners.Anonymousnoreply@blogger.com