Dr. Housing Bubble has a detailed report, Economic Main Street Manifesto:10 Reasons How This Bailout Fails the Middle Class American Worker and I believe it is well worth reading, even though I disagree with some of it.
But I do agree with some of his points such as #5 Housing Prices are determined by local markets.
We have been preaching that from some very expensive rooftops for some time.
It’s the kind of thinking that the government can just step in and wave a green wand like some kind of politically correct Santa and suddenly stabilize home prices that Dr. Housing Bubble finds offensive.
I’m not bringing all of this to get us depressed.
That’s not my intention. We just need to be realistic.
However, I believe there is a silver lining.
Those of us who are landlords will most likely be able to keep out properties filled with tenants as more and more people come out of foreclosures and need places to live.
That theory has proven true so far for our properties. We rented a condo within 36 hours the other day.
And also those of us doing rehabs and investing in more real estate will have plenty of good properties to work with and choose from.