Page 14 - Housing Values News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Exacerbated since then. >> yeah. i think they think it's more acute. there is another problem that you layer on top of this. that is that this program could be a victim of its own success. if, in fact, you have that many people who buy in. who participate in the program, it could actually exacerbate the very problems that it's trying to fix just as the first program did. so, you know, it may actually solve the short-term problem and exacerbate the long term problem which really, i think, could have a negative impact on the economy. if there is a further downturn in housing, then you have all o...

Getting pounded and you hear about european money coming in, brazilian money coming in, it obviously is looking for a place to park cash and a lot of the guys, in fact, real estate do pay cash. so, short-term, at least, as we sort this out, that could be a boon, right? >>guest: of course. it will drive up the housing values in some of the markets and housing values have been going way, way down but this investment seems to suggest that housing values are back on the rise or they will be faster than in europe. so, again, it is confidence in this market opposed to the other foreign markets. why ...

Of these problem loans. which in the near term might mean less of a house price declines, the housing market won't get hit as hard by these distressed sales. but down the road, of course, when these homes do go to market, it will put pressure on housing values. the bottom line is, it means that the -- this is going to take a lot longer to work through this nightmare that we've been in. >> and as if we needed anything to add to the nightmare. i want to read everyone out there the statement that came in from bank of america on this. it says bank of america has extended a review of foreclosure do...

The 1990s was working about 100 hours a year more than he was working two decades before. women were working more hours as well. then strategy three, when these first two strategies wore out, strategy number three was to go deeper and deeper into debt. which seemed easy in the last seven or eight or ten years. before the great recession. housing values were going up. you could use the house as collateral and you could basically have your own private atm. so this enabled them to continue to spend. all of these three coping mechanisms are now over. that is the deem structural problem that we all...

We're going to be meeting the day, in fact, later today to talk about it. we're not there yet. i would hope we could get the votes tomorrow when we have this motion to proceed, to start the debate. again, i think richard and i have a pretty good understanding of where we are in these matters. we can't take care of everything in the bill. obviously our colleagues want to be heard. we've lost almost $11 trillion of household wealth in the last 17 or 18 months, 7 million homes in foreclosure, retirement incomes have declined by 20%. housing values decline by 30%. this morning's news ability goldm...