I dunno, I feel like the reality of it leads us to wanting a rip off the bandaid pace rather than the snails crawl. Look at the ramifications across the globe of not taking bold steps. Japan never really came out of its banking crash recession of the early 90s because they never let the bandaid rip off. Same with our housing crisis.you have a point, but you are not in the least bit facing reality. Change does not come like ripping off a bandaid. It is something that will move at a snails pace. To get things to work that you believe are for the best interest of your constituents and the country (and in some instances, yourself as well) you might approve a bill that has legislation tacked onto it that you dont like. We must deal with the reality of it E.
All the effort into keeping people who can't + aren't paying their loans in their homes, and slowing down banks from foreclosing and then selling the homes is mostly keeping housing prices depressed for longer. So long as there is going to be a consistent slow flow of foreclosure houses on the market, prices will not come up significantly. Even if every home that is in the foreclosure process was released to the market at once, there is still a basic floor value on homes that businesses and individuals would choose to purchase at for rental use and no matter how many homes were available the value would not go lower. At that point, values would start to rise again as the supply/demand for homes would no longer be skewed by the constant trickle of foreclosures.