Current Distressed Housing Feb. 2011
As I write this a presentation on the Current Distressed Housing in the United States is being presented at the Arizona Association of Realtors Winter Conference.
The slide above was sent to me from Barbara’s blackberry, so it isn’t the sharpest image, but not bad considering the lighting and the distance from the screen.
The slide shows how the Housing Crisis is deepening in 2011 NOT getting better. The questions at this point fall under:
Why Haven’t Banks been able to put together a Short Sale Process that is expedient?
Why Cant the Government “Rescue” programs actually work?
I understand there is mounting pressure in congress to remove funding for these programs. Some will ask Why Now?
Simply put, the Government programs were to help upwards of 4 million homeowners save their homes. The reality is fewer than 40,000 were helped.
The overhead for the programs is the same be it few or many. But the cost per rescue shots way up when only 40,000 are helped. Time to look for another solution and stop the funding for the one that clearly hasn’t worked.
Here is a link to the Lending Process Services Mortgage Monitor Report for January 2011. It is a 42 page PDF document showing in details the situation housing continues to face.
There are some other slides but most of the information is covered in the the report above. The last slide is: What’s the Bottom Line?
What's The Bottom Line?
