Let me see if I understand the equation the world wants us to believe. Everyone is having a great time with the fact that housing numbers seem to be on the upswing. But there are so many conflicting numbers and experiences I wanted to see if it made any sense to anyone, because I certainly do not buy it.
--Home price have gone up 7% in July, but Foreclosures are up 7.2% in the same period.
--Unemployment is at 9.5% and rising.
--Most agents on ActiveRain report longer waiting times for Approvals.
--Most agents on ActiveRain report less cooperative Lenders asking for more money.
--Many agents on ActiveRain report multiple offers and brisk business as there are less properties on the market.
How can this all be? Well, there are now reports coming from California and Florida that Lenders are actually holding back, stalling or postponing Foreclosures in order to artificially control the flow of properties that come onto the market. They are seemingly trying to control the supply in order to raise the demand.
Is that fair? What of the homeowners stuck in mortgages they cannot pay and trying to rid themselves of a burden they can no longer shoulder? The Lenders, again, put their GREED in full display to the detriment of the country.
What say you?