Tuesday, September 20, 2011

Waste NOT, Want NOT

We service default real estate in sales and valuation. The mortgage industry generates trillions of dollars in wealth and foreclosure is the waste of the mortgage industry. The waste is an unavoidable by-product of generating that wealth. The government take over of Fannie and Freddie stopped the foreclosure process all over the US and instituted programs to help homeowners. That was in '09. This is '11 and the programs have tanked.

Government and banks have millions of homes in inventory. They even have a name for it; the "shadow inventory". Sounds spooky, and it is! The houses are depreciating, many are vacant. No heat, no water. Keeping people in a home they can't afford fosters dependency. They need transitional assistance. The industry has been providing that for years. Meanwhile, government is suing banks and vice-versa. Leadership is non-existent.

Do you want to solve the housing problem? Do you want to see real estate surge? Do you want to jump start the economy? Release the "shadow inventory". Just as in humans, releasing the waste of this industry will cleanse the industry and create a surge in buyer demand. Owner occupants and investors will flood into the market, competing to get good deals, finance at low rates, rehab and repair the homes and create billions of dollars of wealth and security in our own backyard!

Foreclosure is a self-healing process. Problem is, government shut down the process and constipation is the result!  Ruth Ann Rowe (Rochester, NY) Rowe Realty & Appraisal, Inc.