Can rental programs help the housing market?

According to a paper written by Kenneth Rosen, a housing economist at the University of California at Berkeley, rental programs could help by:

• Reducing the foreclosed homes inventory and turning them into occupied homes again.

Let’s address this first point. By turning these homes into rentals, this will help the Banks make their books look better, but in reality this will NOT help the current Foreclosure market, but it will drive up the rental market prices in less than a year. I know you all think, there will be more rental inventory, which will be true. However, the investors, wanting to re-cover their investments will drive the rental prices up and get it what choice do the people have, when the market is being controlled by those with lots of money. Want an example, diesel use to cost less than regular gasoline, however Bushy-boy allowed his oil buddies to raise all the fuel prices and then they lowered the gasoline prices a little bit just to shut the public up, but not diesel prices, those prices have remained high and no one has said a word, when in fact the cost of diesel has caused everything we buy, food, clothing, building materials, everything to go up in price over the last few years. Just so an industry our government continues to subsidize can continue to make record profits. The same will happen to the rental industry.

• By helping tenants that want to own a home re-build their credit in order to be able to buy a home again.

Do you really think the tenants who want to own their own home will benefit from renting and paying for someone-elses house. Really, Kenneth??? Then you are truly clueless. When one is paying rent, the renter gets one benefit, they have a roof over their head, NO FINANCIAL GAIN, but a severe financial loss. That’s it. There is no benefit to renting as compared to when you purchase your own home. Not to mention right now in a lot of areas rents are more than a 100% loan mortgage payment would be for the very same house.
Here’s an idea, if you truly want to fix the Foreclosure market. Banks should offer a 100% financing loan program to those whom have had a home foreclosed on in the last 5 years or so. A lot of the homes that have been foreclosed on were due to banks predatory lending practices, corporations taking advantage of people cause the corporation could. A lot of foreclosed homes were NOT due to people being lazy, or some other BS reason. Bottom line, 90% of American’s couldn’t live more than 6-12 months without getting a regular paycheck. Corporate Executives gave themselves raises, while they continually laid-off workers. Gee wonder why people can’t make the mortgage payment when their job has been relocated to China, or India, or Vietnam!!! Look, most foreclosed upon home owners are living in something smaller than what they previously owned and would be happy to purchase the same. These are good people, professionals with skills, responsible people that saved their money, bought a house, just to loose it all. You put these people back into a house, NOW, that they can be proud to call their home and truly help them to rebuild their lives, this Foreclosure issue would be over in a year. Not 10 years like these so-called experts want to drag on with using their greedy bonehead solutions. On a side note, these people pay more to rent these places than the payment would be if you did a 100% financed mortgage with the taxes and insurance included, on the very same house they are renting. Without counting on the tax write-off these good people would have enough left over to save or fix up the house they are 100% financing. Benefits galore, but will never happen thanks to the greed of the banks and wealthy.

• A program like this would also decrease the bank-owned inventory. It’s estimated that if we include the shadow inventory (i.e. homes that are not listed yet, but will soon go on the market as REOs), the total number of foreclosed properties is actually four times as big as it is now.

Of course it would decrease the bank-owned properties. The banks want to unload these for a profit on top of the trillions of dollars the greedy banks were given by us stupid tolerant taxpayers. This is a plan to pay the banks a second time for the bad loans they made. When the plan should have been to make the banks work out the bad loans with those they made the loans with, which has never happened. Thanks to the Washington DC criminals, headed up by Bushy boy war-mongerer for profit Administration and the Obama bin rip’n off the taxpayers Administration.

Seeing as Kenneth is from the Beserkly area of California, it’s not hard to understand why he would be trying to convince people that renting is a good way to build your life. In a socialist society, which Berkeley is trying so hard to be, that’s exactly what the government wants you to think. They want you to feel that you are dependent on the government for everything. No Thanks, Kenneth, I see right through your propaganda P.O.S. paper. What’s sad is so many Americans have become sheep, being lead to the slaughter and they don’t even know it. Make the banks solve their mess with a 100% financing loan program to former victims of the banking industry and let’s truly help these people get back to where they were headed in life. We all would benefit from a 100% Home financing loan program, done correctly, including the bankers.

What a JOKE. An INSULT to those of us who know better,
those of us who actually understand how to research the BLS site and find
all the hidden facts about unemployment and labor.

Who are you to perpetuate the selected LIES and BS of the government?
Why would you want to? Do you not have any integrity at all?

This FLUFF piece is disgusting and a poor example of professionalism.
You should ashamed of yourself, ashamed.

January unemployment ROSE to 11.5%. 1.2 Million available workers have
dropped out of the labor force. Funny YOU didn’t mention that, huh.

It’s as if you couldn’t be BOTHERED to take one single minute of any
credible research and/or analysis in your economic articles.

As a 9 year appraiser and 2 year agent, I see nothing but pitiful examples of so-called
‘professionals’ in economics, financials and real estate and the residential side is the
absolute worst of it all.

Eric, Let me point you to some meaningful articles on economics, unemployment and
labor statistics. Please, in the future, do some research for god sakes.
take some pride in being a journo.

http://www.zerohedge.com/news/record-12-million-people-fall-out-labor-force-one-month-labor-force-participation-rate-tumbles-

http://confoundedinterest.wordpress.com/2012/02/03/unemployment-actually-rose-in-january-media-screams-unemployment-rate-declines-is-increasing-unemployment-something-to-brag-about/

http://www.zerohedge.com/news/explaining-yesterdays-seasonally-adjusted-nonfarm-payroll-beat?page=1#comment-2127296

http://blogs.wsj.com/economics/2012/02/01/broader-unemployment-rates-by-state-2/?fb_ref=wsj_share_FB&fb_source=profile_multiline

Or do just like trolling and shilling? What is your deal man?
Why do you want to be perceived as a unintelligent journo, I don’t get it man.
What is your background in economics?

January unemployment ROSE to 11.5%. 1.2 Million available workers have dropped out
of the labor force. Funny YOU didn’t mention that, huh.

You want to know why the RE industry is looked upon mostly as a joke?
We have a bunch of carpet and used car salesmen and the hacks who report on it
running around claiming they are ‘experts’ when in real;ity, they don’t know much
past the words listing, sale and staging.

Iit’s as if you couldn’t be BOTHERED to take one single minute of any
credible research and/or analysis in your economic articles.

As a 9 year appraiser and 2 year agent, I see nothing but pitiful examples of so-called
‘professionals’ in real estate and the residential side is the absolute worst of it all.

A bunch of house frau’s and stuffed-suits who take a meaningless 75 hour course
and then go out and start selling properties AND who under the drunken influence
that they think they know ANYTHING about the financial and economic aspects of real estate.

Let me point you and your real estate buddy sheep to some meaningful articles
on unemployment and labor statistics Jonathon. Please, in the future, do some research for
god sakes. take some pride in being a journo.

http://www.zerohedge.com/news/record-12-million-people-fall-out-labor-force-one-month-labor-force-participation-rate-tumbles-

http://confoundedinterest.wordpress.com/2012/02/03/unemployment-actually-rose-in-january-media-screams-unemployment-rate-declines-is-increasing-unemployment-something-to-brag-about/

http://blogs.wsj.com/economics/2012/02/01/broader-unemployment-rates-by-state-2/?fb_ref=wsj_share_FB&fb_source=profile_multiline