Government hiding foreclosures. Over 1,000,000 loans in default.

[video=youtube;iKdtyDnGM-o]https://www.youtube.com/watch?v=iKdtyDnGM-o[/video]

The housing market will collapse for sure. And for some people that will be a disaster. But for the country as a whole it will be needed. This is one area I do think there needs to be some immediate pain in the short term, for a brighter outcome later.

I don't think it matters what the Government is hiding or not, it either works or it doesn't. And the housing industry has reached a point that no longer functions well for anyone. The real estate side is suffering right now, and the buyer side is also suffering. It's broken. Both buyers and sellers need it to collapse.

[QUOTE=Off the Court;14986762]
I don't think it matters what the Government is hiding or not, it either works or it doesn't. And the housing industry has reached a point that no longer functions well for anyone. The real estate side is suffering right now, and the buyer side is also suffering. It's broken. Both buyers and sellers need it to collapse.[/QUOTE]


but don't interest rates need to go down as well?... it helps that home prices are dropping, but if you have a massive interest rate attached to your loan... still makes it difficult for people to buy.

[QUOTE=Off the Court;14986762]
I don't think it matters what the Government is hiding or not, it either works or it doesn't. And the housing industry has reached a point that no longer functions well for anyone. The real estate side is suffering right now, and the buyer side is also suffering. It's broken. Both buyers and sellers need it to collapse.[/QUOTE]


but don't interest rates need to go down as well?... it helps that home prices are dropping, but if you have a massive interest rate attached to your loan... still makes it difficult for people to buy.

[video=youtube;Gu6hyqtLzwI]https://www.youtube.com/watch?v=Gu6hyqtLzwI[/video]

I have a huge dislike for realtors. Their profession is so outdated, it's a joke at this point. They work in cahoots with mortgage companies, inspectors, real estate attorneys etc. to profit. They are commission based that works out negatively for the buyer. The higher the sale obv. the higher the profit for them -- conflict of interest. My very first home in 2010 in Boyle Heights, CA, I initially worked with someone who did not want to put in offers because they said it was too low/insulting and they may not respond to future offers. I called BS and ripped the exclusivity agreement (future homebuyers be aware).

Someone can work 30 years to payoff their home, and their 1-2 weeks of worth of 'work' or showings can fetch them as much as 8% of the sale. It's not like the older days where the MLS was not accessible for many - it required chauffeuring to see homes etc.: It required more leg work then. Today, Zillow, Redfin, Realtor etc. all offer pretty much what the average realtor does discounted. Their profession can go to shit for all I care. I work strictly with a real estate attorney to do the legal work and they typically work at a fixed negotiated rate. This is something anyone looking to develop a property portfolio should consider before wasting time and money with frauds.

Hell, Rentalmanager (by Zillow) and Turbotenant even take care of my tenants rent payments for free.