Geithner lays a toid on R.E. market

[ClintClint]

In his much hyped television appearance to spell out the details of Governments plans to save the world Geithner 's sense of urgency and transparency for the real estate market's salvation was, and I'm paraphrasing, "we're working on it and the details will be coming out over the next few weeks". Well, not good enough. What are your ideas for the one best move the Government could institute right now to have immediate and substantial impact on the R.E. market to motivate Buyers, stop the foreclosures, stem the downward price spiral, or otherwise positively affect the market. Remeber, I'm looking for near immediate effect.

 

[fisher]

In his much hyped television appearance to spell out the details of Governments plans to save the world Geithner 's sense of urgency and transparency for the real estate market's salvation was, and I'm paraphrasing, "we're working on it and the details will be coming out over the next few weeks". Well, not good enough. What are your ideas for the one best move the Goverfnment could institute right now to have immediate and substantial impact on the R.E. market to motivate Buyers, stop the foreclosures, stem the downward price spiral, or otherwise positively affect the market. Remeber, I'm looking for near immediate effect.

Force all mortgage holders to offer all mortgagees the ability to convert current mortgages to a 4.5% 30 year fixed mortgage with interest only payments for the first two years.

 

[Matt J]

Force all mortgage holders to offer all mortgagees the ability to convert current mortgages to a 4.5% 30 year fixed mortgage with interest only payments for the first two years.

Oh boy interest only payments, that's worked so well in the past.

 

[30ashopper]

In his much hyped television appearance to spell out the details of Governments plans to save the world Geithner 's sense of urgency and transparency for the real estate market's salvation was, and I'm paraphrasing, "we're working on it and the details will be coming out over the next few weeks". Well, not good enough. What are your ideas for the one best move the Government could institute right now to have immediate and substantial impact on the R.E. market to motivate Buyers, stop the foreclosures, stem the downward price spiral, or otherwise positively affect the market. Remeber, I'm looking for near immediate effect.

There's nothing the government can do, prices fall because people aren't willing to buy. The market that created this doesn't exist anymore, the only direction for the market to go is down down down. Government should do it's best to stabalize the banks, but as far as housing is concerned it should just step out of the way and let the market naturally correct. It's going to do that no matter what, the only thing government might be able to do is prolong the agony. Who wants that?

 

[AAbsolute]

There's nothing the government can do, prices fall because people aren't willing to buy. The market that created this doesn't exist anymore, the only direction for the market to go is down down down. Government should do it's best to stabalize the banks, but as far as housing is concerned it should just step out of the way and let the market naturally correct. It's going to do that no matter what, the only thing government might be able to do is prolong the agony. Who wants that?

Seems this all is connected to our national debt. Seems the majority of nations around the world need the US to succeed. Maybe our gov't can or is making a shift of debt toxicity into a bundled vehicle that will default and take some national debt with it. Aren't gov'ts around the world selling each other paper at the moment and working out a global cross collateralization?

 

[30ashopper]

Seems this all is connected to our national debt. Seems the majority of nations around the world need the US to succeed. Maybe our gov't can or is making a shift of debt toxicity into a bundled vehicle that will default and take some national debt with it. Aren't gov'ts around the world selling each other paper at the moment and working out a global cross collateralization?

I believe they call that vehicle, hyper-inflation. However we and everyone else are gunning to create it - flush trillions into an economy you're assured of getting inflation, unless of course everyone else is doing the same. In which case you may still end up holding the biggest bag of debt. (Which is exactly what other countries want.)

 

[AAbsolute]

I believe they call that vehicle, hyper-inflation. However we and everyone else are gunning to create it - flush trillions into an economy you're assured of getting inflation, unless of course everyone else is doing the same. In which case you may still end up holding the biggest bag of debt. (Which is exactly what other countries want.)

I finally figured out what ClinClint was saying when he used the word toid. I've watched Geithner's speeches over and over and couldn't find a toid reference anywhere. You got me CC. You owe me 9 minutes of my life.

 

[SHELLY]

The Florida RE market IS being fixed. As long as prices go down, sales will go up--until equilibrium occurs.

http://www.sowal.com/bb/real-estate...ng-home-condo-sales-rise-december-2008-a.html

.

 

[AAbsolute]

This economic downturn is called the "worst since the Great Depression" Does anyone onBoard know how low the real estate trough went during the GD and how long before it recovered to pre GD pricing?

 

[SHELLY]

This economic downturn is called the "worst since the Great Depression" Does anyone onBoard know how low the real estate trough went during the GD and how long before it recovered to pre GD pricing?