I’m tired of NAR and the rest complaining that lending standards are tight. And that a housing recovery is being held back by unnecessarily-tight lending standards. Phooey. Thanks to the FHA, people with mediocre credit and hardly an cash can still borrow obscene amounts of money. In the Bay Area for example, to purchase a [...]

Despite the lowest interest rates in over 50 years, buyer demand is still low, and increasing inventory is just sitting there waiting for sellers to lower their asking prices.

The Pennsylvania Association of realtors recently conducted a study of those who experienced foreclosure over the last 12 months. It reveals a group of borrowers who were hopelessly overextended an unable to withstand the smallest amount of financial hardship. Of course, that isn’t how the realtors spin it….

We have managed to obtain the opposite of what we desire, and we are paying a huge amount of money to do so. We would be better off to do nothing. The money we spend as a society to encourage home ownership actually diminishes it.

The taxpayers are absorbing bad bank debt through the TARP loan modification program. It is a direct transfer of wealth from Main Street to Wall Street.