Three Interesting Housing Articles

I found these very interesting housing articles recently published.

BofA developing foreclosure rental programs to deal with distressed properties-BOA, Fannie and Freddie are trying to figure out how to move some of these non-performing mortgages or worse these REO properties that they own. Banks have an estimated $50 billion worth of REOs on the books right now. The thought is that banks may rent the house back to the people that lost it to foreclosure. They would do a short sale on them to an investor and rent it back to the previously owner. Interesting, but I think some of these people need to downsize and move out. Plus the emotional attachment to the house has to be severed. As a landlord, you can’t have someone remodeling their bathroom because they still regard this house as theirs.

Residential Housing Ready to Awaken-As we have seen over the last 5 years, you get 50% of the “experts” saying we are in a recovery and 50% of the other “experts” saying we have time to go. This article suggests that some of the important pieces are falling into place for a 2012 slow, but steady recovery.

How Can Renters Solve the Housing Crisis-This article perfectly articulates what my customers have been seeing over the last 5 years. The market is going to recover, put your money in rental properties, and you will see a gain. The mindset of people has shifted. It is OK to be a renter and not a homeowner.

1 comment

#1Saylor6December 25, 2011, 11:05 pm

Why can’t the bank rent homes. They have a right to get a better return on investment for their stock holders.

I like to buy at the bottom but that does not mean the bank has to sell at the bottom. Rent the homes, wait for market to recover, and sell.

They will have to hire property managers and pay for repairs. This could create jobs.

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