July 1, 2010

Bringing back the housing market

By Timothy Stull (http://www.fresh-start.co)

I just don’t get it!! Housing sales have plummeted & everyone wonders why….ridiculous!! Are jobs the key? In a minor way. You must remember 90% of the country is working. Lets look at the 10% that are not working ~ they are a long way from qualifying for a mortgage….2+ years. We can’t wait that long…we need the here and now. Trade up in jobs? Very slow moving element right now…W2 wages just aren’t increasing rapidly. 3+ year project….can’t wait for that either. Now lets look at the market that is frozen ~ self employed, high income, high disposable income, credit 620 to 660 score. Huge market ~ 20 million + ~ can’t get a loan. They can make the payments & have big $$ left over for repairs ~ can’t get a loan. Would spend big $$ on home improvements ~ cash $$ ~~ can’t get a loan. Get the picture….we need to open up the market to this borrower. Otherwise, the USA will go belly up….then we won’t be able to get a loan.

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