Realtors at summit are dead in water

I think it will be difficult to encourage people to buy based on the value of home ownership unless the system of MbS and CDS is changed. Finance and the leverage banks are able to use versus their capital reserves has helped money flow freely. Those at the top of the financial system abused the fact that most homeowners diligently pay their note. They saw $ signs in their eyes once they realized there was nothing else left to be exploited but the perpetual cash flow created from home loans.  The "smartest" and the "brightest' (this really only applies if you consider them the best and the brightest criminal minds) decide to take up the cause.  The result is what we see today:  Banks circling wagons while committing fraud, glossing over laws designed to protect owner's property rights.  Add the administration's blessing fraudulent activity and we have recipe for a bank owned country.   Don't kid yourself!  The banks are in charge because the people in the governemnt are not smart enough to see how badly the country is being sammed. 


People seem to miss the reality that the trillions of dollars created in interest has been taken out of the economy. The interest and fees directly or indirectly related to housing sales creates hundreds and thousands of jobs.
Government Failure Versus Market Failure

Mortgage

Title

appraisal

construction-labor, plumbers, electricians,

home inspectors

Realtors

Real estate office managers

secretaries for all of these businesses

even government jobs like tax assessors or inspectors

lost fees from deed tax on sales to the state

lost permit fees to the counties and cities

excess of unemployed with specialized skill in real estate and mortgage that do not translate well into other fields

repair, remodel

The devastation that has occurred that is all tied to housing in some way is catasrophic, regardless of what the government is trying to sell.  Follow link for more. 

The biggest mistake was toying with housing in the first place. If anyone would have realized that it was housing that creates so many jobs, drives the economy and eases the burden on Social Security, they would have wise to keep everyone's hands off the golden goose.