Has the housing market gone up since Pres. Bush signed that new Housing Bill?

Question

Has the housing market gone up since Pres. Bush signed that new Housing Bill?

Answer 1

As usual, all that the politicians do -- on the left and on the right -- is to pretend to do something, and then take credit if anything good happens to occur afterwards.   And as usual, they're more likely to do harm than good.

After the mammoth housing bubble burst in California, Florida, and elsewhere, of course it'll be quite a while before prices reach that level again.  But we are already seeing signs of prices starting to stabilize in the hardest-hit areas, other than Detroit.  (Detroit's housing problems are of a completely different nature.)

Just don't believe that any housing bill or any politician had anything to do with it.

Answer 2

No.  Many experts are saying that the housing market has only dropped about half-way to where it should be.

Answer 3

No it has not.  I will be surprised to see any improvement due to this bill for quite some time if ever.  The stipulations on the bill concerning helping people get out of foreclosure are tremendous, and also up to the discretion of the lender.  For instance, you have to prove that you didn't default for the purpose of this program to bail you out.  There are qualifying standards, and ultimately if the lender thinks it is too risky or not worth it, they can turn you down.  That is just a little taste of how that works,  and as far as the tax credit for buying a home in forclosure or a newly constructed home, that credit can be subject to recapture if you sell that home within a certain period of time.  Meaning its not a credit it is like a loan that may or may not be called due.  I think we will have to watch over the next 18 months to see the housing market improve, by working its self out through trial and error.  It is a swinging pendulum and it eventually will stop in the middle.