The U.S. Housing Market: Current Conditions and Policy Considerations
The ongoing problems in the U.S. housing market continue to impede the economic recovery. House prices have fallen an average of about 33 percent from their 2006 peak, resulting in about $7 trillion in household wealth losses and an associated ratcheting down of aggregate consumption. At the same time, an unprecedented number of households have lost, or are on the verge of losing, their homes. The extraordinary problems plaguing the housing market reflect in part the effect of weak demand due to high unemployment and heightened uncertainty. But the problems also reflect three key forces originating from within the housing market itself: a persistent excess supply of vacant homes on the market, many of which stem from foreclosures; a marked and potentially long-term downshift in the supply of mortgage credit; and the costs that an often unwieldy and inefficient foreclosure process imposes on homeowners, lenders, and communities.
Looking forward, continued weakness in the housing market poses a significant barrier to a more vigorous economic recovery. Of course, some of the weakness is related to poor labor market conditions, which will take time to be resolved. At the same time, there is scope for policymakers to take action along three dimensions that could ease some of the pressures afflicting the housing market. In particular, policies could be considered that would help moderate the inflow of properties into the large inventory of unsold homes, remove some of the obstacles preventing creditworthy borrowers from accessing mortgage credit, and limit the number of homeowners who find themselves pushed into an inefficient and overburdened foreclosure pipeline. Some steps already being taken or proposed in these areas will be discussed below.
Full paper below…
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4closureFraud.org
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The U.S. Housing Market: Current Conditions and Policy Considerations
The homes were only worth the bubble price until the bubble burst…….the bubble prices were derived from fraud….yet the property taxes do not reflect the true values….same with the commercial properties….they are committing massive property tax fraud cover up for all of the policemen and firemens pension money they stole!!!!! The robbery continues…..under the radar of most……we are all being robbed so these crooks can try and cover up for all of the fraud!!!!
Then exspected to work with the predator parasite felons trying to steal our houses for free, when we own them due to their very own dirty hands. and or rent our homes from these SOB’s. We need to fight on!
Excellent analysis Vent, the media and the Fed are under the control of the Banksters. It is surreal to read a so-called academic product completely ignore cause and effect, which admittedly isn’t the point of this bulk.
But a vigorous recovery means something very different to millions of Americans than it does some oblivious stuffed-shirt economist employed by the owner/ruler class.
Thank you Stanley…I was listening to the Norman Goldman radio show tonite and he was talking about the fact that BOFA has recently pulled hundreds of credit lines from small business owners in America and put them out of business…BOFA is demanding payment in full…hundreds of thousands of dollars from these people..Norm was talking about how there is a push for State banks in Illinois and California and those States will no longer need to use the Big Banks……. if this comes to pass that will be a big boost to the economy.. The plan is for the community banks to join the State bank and the tax money the State collects will be used to lend to small business owners and that would be great for the economy…My son just told me that CHASE will only allow their customers to withdraw half of their own money at a time…Time to end the bankster tyranny and throw out all of the traitor politicians from both parties! We need a real american patriot in 2012 or we are doomed…!
I guess chase will only let their customers withdraw half of what you used to be able to withdraw? Whatever that means. That is not a bank…that is a dictatorship…
no one can see the full picture. there are radio show hosts calling ron paul lovers crazy so how can anything ever be fixed when no one really knows what is happenign unless the fraud has been done to you , you do n ot know. the e 60 min show was one time thing and it goes away. i have foreclosure paper work with my signiture forged on my note. different font then my mortgage signature and different pen? i do not remeber changing pens. also the typed name includes my middle intitial the forge signiture does not. my signiture changed in 6 years seems like they used a signiture off my modification paper work that is not even included in the foreclosure documents. the fraud just continues. putting people in stated income loans that have verifiable income is fraud. dending pay check stubs to the mortgage broker and then she increases your salary with our your knowledge and directs you to initial the mortgage application is fraud. we trusted these people. we trusted that we could afford these homes that we bought. they need to end the foreclosure, give the homes back to the people thaat have lost theres and start over. reboot. the present system of defrauding us is not working.
So true..and no one in the media are speaking the truth….that these criminal financial institutions owe 700 trillion in collateral mortgage fraud debt…..their debt can never be repaid no matter how much they steal from all of us……the truth needs to get out to the American people…….the liars loans are not why we are here…..this was another ruling elite Hitler plan….this is about world domination and the subprime loans where given intentionally to create a distraction from what they really wanted to accomplish….a private corporate government and a world of debt slaves who own nothing but the debt of these crooks…spread the word……they are after our national sovereignty and they have bought both parties in order to protect themselves…….the United States government has been hijacked by the new world order…..they are a cabal of liars and thieves who use big lies to steal nations and freedom…..they have also hijacked the u.s. treasury via that. Ctr traitor Timothy geithner……!!!!
Let me fix that last sentence…..that council on foreign relations member Timothy geithner…is a traitor!!!
Only 20% of the loans were liars loans……that is not the reason we are here….that was put there intentionally as a distraction and use as way to blame the victims of the biggest robbery of our wealth in history!!!!!!
MAYBE YOU SHOULD STOP THE MONEY PRINTING AND FEEDING THESE INSOLVENT FINANCIAL INSTITUTIONS….YOU ARE BANKRUPTING AMERICA BERNANKE…JUST LIKE WHAT HAPPENED IN WEIMAR GERMANY….THAT WAS UNDER THE GUISE OF WAR DEBT OWED TO THE BANKSTERS…THIS IS $750 TRILLION IN COLLATERAL MORTGAGE FRAUD DEBT THAT THE BANKSTERS OWE……STOP THE ROBBERY OF AMERICA…YOU DIRTY CROOKS!!!!!
The media has Romney pegged today as the Republicon nominee…John McCain is endorsing him…..John McCain the Senator who helped draft sections 1031 and 1032 of the NDAA….Come on people, we are better than this…Please…stop drinking the medias kool-aid…!!!!! Know your enemies…they are in plain sight…they are in both political parties…they are not working for us, they are working for the NEW WORLD ORDER!! WAKE UP AMERICA!!! THEY ARE STEALING YOUR RIGHTS AND YOUR COUNTRY AND BANKRUPTING ALL OF US!!!! JUST LIKE HITLERS GERMANY!!! DO YOUR HOMEWORK ON THESE CANDIDATES PLEASE!!!
http://www.americanselect.org/
Ilove that idea..thanks acmodspecialist!! Thom Hartman show today said not only do we need to take our country back…we need to take both political parties back….he suggests we need more progressives…I think we just need to do our homework and stop believing everything we are told…these politicians need to sign legal contracts otherwise they can be too easily corrupted…I am from Chicago so I know there is really no way yo take the money out of politics…we need an legal contract amendment for those bastards in Congress as well as the state and local governments….they keep drafting and passing laws no one wants….they are all out of control and in need of a reality check…!
in Illinois they dirty rats just raised the highway toll fee from 80 cents to a dollar fifty!!! No doubt it has something to do with the big tax breaks sears and the cm e group got from the state…..they all need to be thrown out! They are robbing us blind…!!!
Sounds like maybe the pirate ship is sinking from the weight of all of the fraud….???