What will improve the housing market?

  • January 28 2012 - Louisville
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (12)

Lenders becoming a bit more realistic on what and who the borrowing public is. By definition lending goes hand and hand with risk and large lenders seem to want as close to no risk as possible. We also need jobs and we have to do something about all the upside down mortgages and shadow inventory. It's quite a mess but with these interests rates if lending became a bit more relaxed people would be happy to buy. I'm not suggesting ninja loans just a bit more understanding by the lenders. We can only hope.
  • January 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Its amazing how we all struggle with this when the answer is very simple. In my market there are 3300 homes for sale and about 200 sales per month. The market will start to turn when the demand number (200) gets closer to the supply number (3300)...
  • January 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for the_country_hick
The government getting out while allowing the market to function freely including the level of interest rates.
  • January 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Alan Grizzle

We need Jobs.

  • January 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Lenders need to let loose some of that capital they have stock piled!
  • January 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

From a buyers perspective it's a great time to invest at this very moment. From a sellers standpoint, it's going to take a continuing inprovement in the employment sector. As unemployed consumers begin to gain full-time respectful employment in their professions and become stable enough to pay their mortgages...the number of distresses sales should begin to be less of a negative factor on sales prices.

  • January 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Caveat Emptor
every market is based on the fundamentals of the primary consumers. falling prices, increased wages across the board or fewer restrictions on credit would all result in higher prices.

only falling prices however, is good for consumers.
  • January 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Watch out, Rita - you don't want to get Dixie Chicked!
  • January 28 2012
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I agree with Joseph. The only way the housing market can recover is if the REO and Short Sale supply diminishes and demand returns. The only way the number of Short Sale and REOs can be reduced is if the government (FNMA/Freddie) and other investors aggressively pursue loan modification with principal reduction if necessary. Also, the large scale refinancing should be more aggressively pursued by the GSEs. At the same time, the REOs should be converted into rentals, this way the inventory gets reduced. 
  • January 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for hpvanc
Time, wage growth and general inflation.  Natural economic law has reasserted itself, and so far none of the "fixes" have succeeded in doing anything besides delaying the inevitable.
  • January 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

The bank owned REO`s and short sales still continue to drive prices down. It`s going to take at least two more years to stabilize the economy and reduce the distressed properties that are flooding the market. Once that happens we can return to a "normal market".
  • January 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Rita Walker
Wes,
Are you keeping up with current events?
The US economy needs to make a comeback. We need our elected officials to stop insider trading and taking money from special interest.
When they start caring for their constituents instead of lining their pockets there will be a change that makes an improvement for the people of this country and in turn will help our industry.

BTW: That fact that Mitch McConnell is from my state is truly an embarrassment!!
  • January 28 2012
  • 2Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.