Foreclosed home owners out for revenge
There are 478 homes in Spokane that are involved in the foreclosure process. While that's lower than the national average, the condition ...
Fed: Flipping fueled housing collapse
In my opinion, several factors played a bigger role:
1) Government lowered interest rates to a lower level than they would be naturally. This was done to deal with several crises: Financial crises in '97, '98, the Y2K craze, then the 2000 tech crash, the fear and uncertainty caused by 9/11... etc. This made mortgages cheaper than normal. They might have, could have known about these side effects, but the nature of politics is that you "do something, so you can say later you have done all you could." Hindsight=20/20, I know.
2) Democrats, in order to prevent discrimination in lending, passed certain laws to (de)(un)(mis)regulate this area of finance, which, as a side-effect, made it more costly for banks to say "no" to a mortgage than to say "yes". With the government & taxpayer as a backstop behind Fannie and Freddie, it became "seemingly somewhat less risky to say yes".
Property foreclosure Homes Are traded at Ignored Prices Б─⌠ Get ...
Author name: Tabbaa L.L. Sugabo
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