A Mortgage Break You Can't Afford

Click on the title to link. Another good article about the pitfalls of all this mortgage "help".

Details on the New, Extended Tax Credit

Click on the title to link. As you probably know by now, the Feds have extended the tax credit. Additionally, they broadened the net to include existing homeowners who meet certain guidelines. Read this helpful article to get the "down low".

Stemming the Dollars Decline

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Permit Fall Signals Housing Weakness

Click on the title to link. We believe it is premature and irresponsible for anybody to say we are out of this recession at this point. As we have said before, many of the positives out there are directly derived from stimilus efforts. Those are "false positives". And until they get the real estate market stabilized (and it is not even close) then we cannot and should not claim we are out of the woods.

The Ugly Truth

This is an article about our rediculous budget deficit. Sad.
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Unemployment Continues to Rise

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Another Housing Slump?

Click on the title to link. This is one of the reasons we believe that if the Feds do not extend the First Time Buyer tax credit the market will fall off a cliff. It will not be a gradual decline. It will be steep and fast. Again, we are not big on the government poking their big nose in, but they got one out of however many right; and it is an important one at this point.

Tell The Unemployed The Recessions Over

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A Fight Is Looming

Click on the title to link. This is an article we have been waiting to see. It is regarding the battle being waged over the $8,000 tax credit that is set to expire Dec. 1. You should know this by now, but if you are a first time buyer (have not owned a home in the past three years) then you get a dollar for dollar credit of $8,000 on your taxes. We content that this alone is responsible for the real estate market doing so well. We also contend that if this is not extended then the market is going to do an immediate nose dive.
The article talks about the skeptics who say this is something benefiting people who would have bought anyways. Although that is certainly the case for some, these skeptics have no clue what they are talking about because they are not in the "trenches" everyday like we are. These are the same people who are supporting the disastrous "cash for clunkers" program. They are clueless and have no idea what they are saying.
Take it from us, this credit is getting people to buy homes who would not have otherwise, or they may not have pushed up their time frame to take advantage of this credit. If this credit is not extended then you watch, the real estate market is going to dive. At the very least, it should be extended as is. We are not sure how we feel about NARs (National Association of Realtors) proposal of making it $15,000 for any buyer because the of the cost. It would be another costly government program, and the madness has got to end somewhere. But one thing is for sure, if that did happen the real estate market would go through the roof because those who would not have bought and/or sold before would be in to take advantage of it.
Take it from two guys who are anti-government involvement (for the most part), they got this one right. Let's see if they keep it right, and listen to those of us who actually do know what we are talking about.

Recovery Feels Far Off For Many

Click on the title to link. This is one reason we contend we really are not that close to recovering, certainly not like the media and "experts" keep throwing out there. Our recovery is far more than a numbers game. These folks keep looking at numbers that, in our opinion, are inflated due to the stimulus. They are not a true picture of reality. This article is an example of that. I doubt most people would say they feel the affects or a "recovering" economy.

Why It's Time To Invest In Real Estate

Click on the title to link. This really is a good article that lays out why now is a good time to consider buying, especially with the tax credit for first time buyers.

Millions More Foreclosures Coming

Click on the title to link. This is nothing new, but another article on the continued wave of foreclosures that will keep rolling in. This will keep the real estate market in check.

Is The Stock Rally A Good Sign?

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Lessons Learned

Click on the title to link. We thought this had some good insight. We are still not as convinced we are out of the woods as they make it sound. But regardless, the lessons learned applied.

Bank Implosion Ahead?

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Considering Our Last Post...

This is timely.

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Let's be positive and have a "glass half full" outlook; absolutely. But let's be realistic also and prepared to fix the root of the issues (not the symptoms). You can't put a bandaid on a hemoraging artery and expect it to heal.

US Budget Deficit

Click on the title to link. This Administration spends money like nobody's business. The long-term consequences will be far reaching and severe. You just cannot continue spending money like this without problems. Yet, here we are.
This is without a doubt the scariest statement in this entire article:

"This recession was simply worse than the information that we and other forecasters had back in last fall and early this winter," said Obama economic adviser Christina Romer.

Are you serious, Christina? Do we have stupid stamped on our foreheads? And you advise the President on the economy? Lord, help us all then. I am curious, why is it that everybody else in the country knew it was this serious then? And why did you rush through a stimulus bill of hundreds of billions of dollars? What a cop out! If you don't agree with this quote (Republican or Democrat) then you are in denial:

"The alarm bells on our nation's fiscal condition have now become a siren," Senate Minority Leader Mitch McConnell, R-Ky., said. "If anyone had any doubts that this burden on future generations is unsustainable, they're gone — spending, borrowing and debt are out of control."

The Next Stage of the Housing Crisis

Click on the title to link. This really is not anything you have not heard on this blog for some time now. But this is a good article about the next stage of the housing crisis. Yes, there are many good things going on with house right now. But it is not a full picture because there is alot of bad things on the horizon that is not being talked about. So read this article so you are informed of reality, and then call us with questions. 830-9685.

Mortgage "Relief" Frustration

Click on the title to link. Did people expect a government originated "rescue" program to be smooth and easy? It is so rediculous what they want you to do to actually, possibly qualify for these "programs". Mainly, you must become late on your mortgage. So I guess those paying the mortgage, but struggling greatly, are screwed. It is like most government programs...good idea on the surface, but horribly executed and thought through.

The Federal Debt and Its Effects on Recovery

Click on the title to link. We have always wondered why Warren Buffet does not play more of a role in our economic decisions. He clearly knows what he is doing with money. Any ways, he talks in this article about how the current Administrations spending spree is going to make the road to recovery more difficult. You don't have to Buffet to figure that out.