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News Link • Housing

The Housing Crash - The Data Confirms A Downward Momentum

• Rense.com

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Comment by William Klepzig
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The O**Q**man has said we need to spend our way out of this problem. He is talking to those with homes, jobs and have made their monthly payments. The idea in Washington is to state good news, they do not think the average American reads the net or goes looking for factual news, that being said every fact is turned just enought to make it look not too bad.
If they want to put a bottom to this housing market the way, very radical and would harm the money men, is to allow every mortgage to be cut by 33% and interest rate to go to 2%. No extra costs to the banks for this refi. The feds would pay 16.5% to the bank of that loss and the banks would use the loss on their balance sheets.
The real outcome is the 90% of home owners that are making their payments would have money in their pockets. Money, enough for large and small purchases. This program would be in place for one year, after that the values and interest would also rise. You would see people moving into new homes, people that now can**Q**t afford a home having the real money to purchase it and more importantly the end to the housing market failure. I would in areas where there are huge amounts of homes on the markets sell them at even more off the principal price.
But what the hay!!! It is radical and would work. You will see this in the next six minths but you read it here first!!!


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