False Hopes Cling to New Housing Aid

Share Article

The U.S. housing crisis is hitting almost everywhere with record high foreclosures as credit losses reach into the trillions of dollars across the globe. Housing Predictor explores the crisis and reveals the future impact the new laws passed by Congress will have.

The nation's housing crisis is hitting almost everywhere from Wall Street to Main Street across the country as a result of the credit crisis. Credit losses across the globe are reaching into trillions of dollars. The lingering affects of the real estate crisis have widespread implications. Housing Predictor explores the crisis and reveals the future affects that the new laws just passed by Congress will have in the future.

President Bush was threatening to veto any bill brought to him with provisions for a bail-out, but when push came to shove the president finally gave in to Congress. The bail-out is certain to become the nation's largest financial disaster yet due to unscrupulous lending by mortgage companies, banks and the development of new financial instruments to sell the loans on Wall Street.

Estimates range as high as 1.5 million homeowners that will be helped by the new programs, which effectively produces a bail-out of lenders and homeowners. But many expect a much smaller percentage of homeowners to actually get help. It's another case of abuse and criminalized fraud and socialized pain, which the tax payers will eventually foot.

With help from reporters in Washington D.C., and across the country Housing Predictor details the nation's plight and exposes the untold story behind the nation's foreclosure epidemic. Mortgage companies weren't just making loans by the truck loads during the real estate boom in the subprime and conventional markets. They were hauling all the money in they could before the lending door slammed shut.

Lenders and many of the country's largest investment banks are under investigation for improprieties in relationship to the crisis, which equates to the largest redistribution of wealth in the country's history. The fall out is massive and has devastating affects on the nation's overall economy, resulting in a new home lending industry with tighter lending regulations. Some 75 percent of all home mortgages made in the last 10 years have been largely unregulated.

The number of homeowners at risk of foreclosure now tops 3 million after at least 2.5 million have been foreclosed. Housing Predictor was the first media outlet to forecast the foreclosure epidemic, which has made a severe impact on the national economy, and forecasts more than 250 local housing markets in all 50 states.

Follow the Housing Predictor series on the real estate crisis to get the latest inside track with analysis of what the future will bring at http://www.housingpredictor.com.

# # #

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Mike Colpitts
Visit website