sharon sanders
Editor-in-Chief & President
Banks that were bailed out with taxpayer money are not lending on new lower FHA credit scores program. Restriction of the money supply is crippling home sales recovery.
Wednesday, 23 Mar 2011 10:11 AM
Sales of new homes plunged in February to the slowest pace on records dating back nearly half a century, a dismal sign for an already-weak housing market.
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To summarize, home prices have now suffered through five months of year over year declines, while sales volume is in a nine-month tailspin, year over year.
Read more: http://www.businessinsider.com/no-signs-of-recovery-for-the-us-housing-market-2011-3#ixzz1HWBQx3wN
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Private banks have swung too far in overcorrecting for the excesses of the credit boom from 2003 to 2008, he said, and are actively looking for ways not to lend.
?Housing does not truly recover until lending does,? Mr. Miller said. ?It is currently dysfunctional.?
http://www.nytimes.com/2011/03/13/realestate/13fear-mortgages.html?src=twrhp
Wednesday, 23 Mar 2011 10:11 AM
Sales of new homes plunged in February to the slowest pace on records dating back nearly half a century, a dismal sign for an already-weak housing market.
----------------
To summarize, home prices have now suffered through five months of year over year declines, while sales volume is in a nine-month tailspin, year over year.
Read more: http://www.businessinsider.com/no-signs-of-recovery-for-the-us-housing-market-2011-3#ixzz1HWBQx3wN
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Private banks have swung too far in overcorrecting for the excesses of the credit boom from 2003 to 2008, he said, and are actively looking for ways not to lend.
?Housing does not truly recover until lending does,? Mr. Miller said. ?It is currently dysfunctional.?
http://www.nytimes.com/2011/03/13/realestate/13fear-mortgages.html?src=twrhp