What is up with housing?

[Nyctochicago]

I think it is beginning to stabilize

[MOforthewin]

Originally Posted by GreenhouseZ

It's anyone's guess. Our realtor keeps telling us that prices really aren't going to drop all that much. The foreclosure moratorium has been extended to the end of July and once it ends, it will take time for banks/lenders to review each case, thus delaying foreclosures.

My neighbor has been in foreclosure proceedings since 2007 (not sure how that's possible, but so they said ) and the bank is putting the house up for auction in Sept. So there might some foreclosure activity this fall.

Damn! So he made no house payments since then? Just think of that! Sure, his credit took a hit but if you saved that every month by not making a house payment he simply could get another house and just wire the entire amount over! Payed in cash with all the money he saved not making a house payment for the last 14 years. Why haven't more people done this? Heck, the money saved he could show up at the auction and buy his house lol.

[Green Meenie]

Originally Posted by MOforthewin

Damn! So he made no house payments since then? Just think of that! Sure, his credit took a hit but if you saved that every month by not making a house payment he simply could get another house and just wire the entire amount over! Payed in cash with all the money he saved not making a house payment for the last 14 years. Why haven't more people done this? Heck, the money saved he could show up at the auction and buy his house lol.

Doubt he's that smart. Likely spent all the money that should have been for mortgage payments. People that fall behind like that aren't normally wise investors or savers. They're more often than not people who pi*s their money away on stupid stuff like gambling, drink or drugs. All of those problem activities will see funds prioritized over things like housing or food. It's sad - it really is

[KMerendino]

Originally Posted by kidyankee764

Two homes that sold on our street in the last year had buyers from Southern California. To them, FL housing (which is still quite expensive, especially in south Florida), is a bargain.

Their ignorance continues to amaze me.

[floridarebel]

Broward county has run out of land to build on.

[Rumann Koch]

Originally Posted by floridarebel

Broward county has run out of land to build on.

Which makes Broward County, with its large, spread-out suburbs and high tax base the perfect place for Biden to implement his new Infrastructure Plan which calls for dramatically expanding the Federal government's power over suburbs.

The Plan focuses on fundamentally changing standard zoning practices - County codes that restrict everything from the type and height of buildings and number of rooms to the placement of sewers, fresh water pipes, and utility lines - all reasonable regulations.

But according to the Biden Administration (begun under Obama), these regulations are deemed 'Restrictive' - which is a liberal code word for 'Racist' under Civil Rights laws. And being such, the Federal government can withhold millions of dollars in Federal funds from Broward County, unless the county falls in lock step to the goal of the Progressives - to redistribute wealth. Their argument is that the existence of poverty in urban centers, as opposed to suburbs, constitutes de facto evidence of racial discrimination. And as we all know - as long as there is a place that is poorer than the place you live, then the place you live is Racist.

The 'Home Act', a Bill proposed by Cory Booker of Newark would cut billions of dollars of Federal funding to any local government with: "ordinances that ban apartment buildings from certain residential areas or set a minimum lot size for a single-family home." Sounds like my suburban home in Broward County... maybe it sounds like your neighborhood.

Now where to put these 'Non-Racist' buildings, especially if Broward is running out of land? Well in the suburbs of course. So would you be OK with the government tearing down several houses on your block and building low-rent apartment buildings?

[GreenhouseZ]

Originally Posted by Green Meenie

Doubt he's that smart. Likely spent all the money that should have been for mortgage payments. People that fall behind like that aren't normally wise investors or savers. They're more often than not people who pi*s their money away on stupid stuff like gambling, drink or drugs. All of those problem activities will see funds prioritized over things like housing or food. It's sad - it really is

I agree with your assessment. However, some may say that she is actually pretty smart for working the system that has allowed her to stay in the home for so many years.