Since I am a licensed loan officer and also trying to sell my home, I've been reading many articles about the housing crisis and economy woes. Many experts say the housing crisis is the primary cause for the decline in the economy. I just found this article that explains everything very clearly, and thought I'd create a link to it for any of you out there that want to learn more. Alan Greenspan said in his ABC interview on Sunday that it is the responsibility of those involved with real estate to help pull the nation back on its feet. Mortgage requirements have definitely tightened, but there are still options for financing. The media has scared many people away in looking to buy or refinance their homes. Although it may be tough to get financing, if everyone still steers away from it the problem will take longer to solve. Anyway, I don't want to get on a soap box, but just thought I'd share this great article for those that are interested and would like a better understanding of why mortgages have affected these other big names like AIG, Merril Lynch, etc. :)
12 years ago
2 comments:
Where are you planning on moving when your house sells?
I must admit, buying a house is a very intimidating thing for us. Some days I want to, most days it sounds nice, the rest of the time it's the last thing on my wish list. Thankfully, the Navy has made it easier to decide that it's not worth our while to try to buy when we are temporary residents everywhere we move.
Stupid housing market. Well, bought our house 3 months ago so it can be done. I sure hope you sell yours soon. I think you are waiting a lot longer than we had to and I was way bitter. Sorry if you are bitter:)
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