Thursday, September 22, 2011

Surely Says...Texas Real Estate Update...


Did you Know?
33% of loans in Foreclosure have not made payments in 2 years.
4.1 million loans are 90 + days delinquent or in foreclosure.

RECON, Mark Dotzur, per his presentation below:

Restarting the Housing Market
People still want to buy homes.
They are worried that prices may fall further.
The OCC reports over 4 million houses in
foreclosure or over 90 days delinquent
Loan modifications are not working
At current rates, it may take 50 months to
clear the foreclosure inventory

We need to speed up the foreclosure process

We need to encourage private investors:  
Make investor financing available
Shorten depreciation to 15 years, with ACRS
Write off losses against earned income
No capital gain if you hold the property 5 years

Everyone agrees that housing is the key
headwind against the US economy.
Postponing and delaying foreclosure does
nothing but extend the market paralysis
We need a change in policy now.


No comments:

Post a Comment

LinkWithin

Related Posts with Thumbnails