2007-07-30 10:45:51 · 5 answers · asked by Jeffrey C 1 in Business & Finance ➔ Renting & Real Estate
because homeownership is paramount to the success of this country. the gov't will create programs to help keep people in their homes as well as get new homeowners into houses.
Remember, its a cycle, this isnt the first time, and wont be the last time that this happens.
There are a lot of investors that are going to clean house on this market... buying up and flipping properties once it turns around.
The foreclosures are primarily caused by people biting off more than they can chew, combined with falling home prices. Inflation will again catch up, and things will be fine.
and subsequently... alot of people who couldnt afford homes now can due to the low prices... its all a cycle.
2007-07-30 10:50:37 · answer #1 · answered by Anonymous · 1⤊ 1⤋
The real estate industry will be just FINE. However, there may be some sore rear ends in the mortgage underwriting business, since those are the folks who are really taking a financial beating with these foreclosures.
2007-07-30 20:17:09 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
The real estate industry will be fine. But now lenders are tightening up requirements, making it harder to get people into loans. So ultimately, it is the lending industry and the consumer who are going to suffer.
2007-07-30 20:30:28 · answer #3 · answered by godged 7 · 0⤊ 0⤋
the strong always survive..so while many mortgage companies are closing or even haveing charges brought against them...the more reliable, stronger, viable companies and banks will survive.
remember this is not the first time in history that this has happened. i can remember 2 other very distinct dates when this happended across the country as well.
people who can afford to buy up property will and then when the market turns (as it will) they will sitting pretty when they sell.
even if properties do not sell...the banks will and have rented out properties just to get over the hump.
remember all the people who have lost their homes to foreclosures will also be looking for a place to live..so people and banks will buy up properties and rent them out (if they cannot sell).
again...it's all about survival..."the strongest will survive"
thanks for asking ---good luck :)
2007-07-30 17:53:34 · answer #4 · answered by Blue October 6 · 1⤊ 1⤋
of course it will. There have been crashes before of all kinds of industries and will be again. Life goes on.
2007-07-30 18:01:31 · answer #5 · answered by Anonymous · 0⤊ 0⤋