Steve, Steve. Housing is picking up because the gov. owns tens of thousands of foreclosed homes. If you are the right color, a vet, a single woman with children, have no credit at all, you can get one for as little as $250 down. ( believe me, I get asked those questions a bunch and have the facts thrown in my face) I however have to have 30% down and even with stellar credit, I can't borrow money. Go figure! So who do you think is "recovering"? Ahhh, the O rewarding all those voting poor,minorities, and special groups.
I have never had a problem getting a new vehicle, but it was a struggle recently to get financing. Why?? And with all this cheap money
around, I have been looking at refinacing the few loans I have. Guess what? They slammed my credit rating for trying to make a smart move for me financially. The whole system is rigged against ACHIEVERS. Better to be dumb and hold your hand out.
As soon as they shuffle these homes back into the market who is going to make the payments? Remember the true unemployment #? And if they get them cheap does that lower the valuations of surrounding homes therefore stealing their equity? (I estimate I lost 30 to 40% already on my Maine homes) And will the assessors at the state and local level bring down the assessments to reflect this to be fair?
How about the formulas based on appraisal of local towns for reimbursement from the states? So now you have more people paying more for their home then it is worth and this is going to fuel a recovery? And how are they going to feel about the new neighbors that got something for nothing at their expense?
It just creates another can of worms when you give things to special groups because someone has to pay.
I think vets should get preferential treatment, they earned it generally. Not all of them however. Combat veterans and wounded/maimed soldiers and other designated high risk positions. That will probably start an argument but I know guys that spent years in the service and never left the US. Some never left a desk.
I am a builder also, there is no recovery here according to the contractors (big ones) I speak with. And the economy is better here then most places in the US.