Tuesday, September 7, 2010

Housing's Inevitable Crash: Will "Extend and Pretend" Finally Come to an End?

Home sellers had a 6% success rate in the C'ville Metro area in August. Inventory soared to 18 months.   In this 5 County region, as in many other areas, buyers sit on the sidelines as sellers have to "chase down the market. "   Meanwhile, Virginia remains in the Top 10 for mortgage holders with negative equity.  And today, the Obama Administration will announce another mortgage bailout. 

But in the 'wider world,' more and more economists and housing analysts are calling for what's been Federal Gov't policy to avoid thus far: letting housing crash where it will. 

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