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Housing market worse off than 4 years ago

By anonymous   2012 Oct 22, 4:19am   1,466 views   2 comments   watch (1)   quote      

http://www.foxbusiness.com/news/2012/10/22/local-housing-markets-seen-worse-off-than-4-years-ago/

Home prices in most U.S. counties are still down compared with four years ago, as high unemployment continues to hobble a full recovery from the housing crisis, said market researcher RealtyTrac. About 65% of county housing markets are worse off than they were four years ago by three of five metrics: home prices, unemployment rates, foreclosure inventory, foreclosure starts and share of distressed sales. Foreclosure data show the rosiest picture, as slightly more than half of all counties demonstrate a lower foreclosure inventory and fewer foreclosure starts than four years ago. "The U.S. housing market has shown strong signs of...

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1   FunTime     2012 Oct 26, 3:16am  ↑ like   ↓ dislike   quote    

Why do articles point to unemployment and other fundamental issues as reasons for housing prices not being where they were four years ago? That makes no sense! Housing prices went up as much as they did because millions of fraudulent mortgages were produced to feed a thriving area of fraudulent investment.

2   bubblesitter     2012 Oct 26, 3:38am  ↑ like   ↓ dislike   quote    

FunTime says

fraudulent investment.

Indeed. Biggest legal fraud ever committed on American taxpayers.

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