While U.S. Federal Reserve rate cuts and the economic stimulus package are helpful, they aren't enough to bring the economy back from the brink of recession. Some mortgage lenders' decision to temporarily suspend the foreclosure process through "Project Lifeline" is encouraging, but more drastic steps need to be taken to help a housing market that is obviously in trouble.
Few would disagree that the explosive growth in the housing market (prices and inventory) over the past several years was stimulated by lenders providing easy financing. As is typical with most major purchases, as financing becomes more affordable, an increase in demand will follow.
While it is easy to blame "subprime" lenders, More... [Lyle Martin- Broker Agent News 2008]
Subscribe to:
Post Comments (Atom)
1 comment:
We all know that in real estate industry we can't avoid foreclosure,the positive of this crisis is we are not just lose hope,we need to think some ways to provide some solutions in this problem.
-Ella
Post a Comment