Between oversupply, bank failures and countless other reasons we all have our opinions as to the problems of today’s housing market. We’re also aware of challenging issues in the credit market but have we really considered the cost?
It’s not just a little consumer and Realtor frustration. The absurdities of today’s credit markets are costing our economy and individual consumers millions. What can our industry do to help? What can we as practitioners do to help? The first step is making the public aware.
Ken Montville
March 7, 2010 at 1:48 pm
No question about it. Access to credit is a huge challenge. Banks are just sitting on their money, stockpiling it in their reserves when they’re not spending millions to lobby Congress or hand out bonuses. There should be a way to “encourage” banks to open the credit markets, again, but I surely don’t know what it is.
Unfortunately, NAR and the banks don’t really get along. So, unless NAR can get some folks in Congress to do something I wouldn’t expect NAR to be much help.