What do you think what could happen in the future of real estate and Loan Mortgage businesses?

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It seems that foreclosures are all over california. I just felt for those homeowners that they have to go to foreclosure because they can’t pay their house payment everymonth. Some people who have 3 or 4 rental houses are foreclosing, is there anything remedy for these? What do you think they should do? Are these builders for new houses have something to do with the collapse or the realtors or the lenders? What does the government do to these houses that being foreclose, that no body seems to not interested in buying? There are thousands and thousands of them and they are very nice houses too???

  1. Reply
    February 21, 2011 at 7:52 am

    I think that if Baby Bush doesn’t put a stop to all these companies outsourcing and leaving Americans without jobs, our entire economy will collapse. Real estate included.

  2. Reply
    February 21, 2011 at 8:20 am

    It is not the gov’ts fault that builders overstepped their abilities to sell pre-made homes. Building homes and expecting (hoping) people will buy them is nothing more than prospecting for gold in a stream. Some streams have gold, some have rocks. Location is the key for these builders – not the market and its’ fluctuations. I also know that the CA market was one of the most overpriced (along with portions of FL and TX), in the nation. Certain areas had homes that were 100% overpriced. Perhaps the builders are asking too much for the homes? I can ask $ 100K all day for my truck but will anyone buy it? Is it worth it? No. Same goes for many homes in the USA.

    Also, the gov’t has little to do with foreclosed homes. The home goes to a foreclosure sale and the highest bidder gets the home (if at or above what the Lender needs to pay off the loan-state law dictates foreclosures). If no bids are accepted the Lender will hire a realtor to sell the home. Remember this: lenders are NOT in the home selling business. They are in the loan business. And if you own 3 or 4 homes and some are being forclosed on, so what? You already are way ahead of the average American. Why weep for the losses of the wealthy? I don’t. And yes, owning multiple homes places you in the “wealthy” catagory. You aren’t Bill Gates, but you don’t live in a cardboard box either.

  3. Reply
    February 21, 2011 at 9:03 am

    The main Reason is one word!


    But by all involved!

    The Ironman

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