Seeking A Cure For Low Home Prices

From the AJC.com:

The efforts to bolster credit markets should help housing, Treasury Secretary Henry Paulson said Thursday on Fox Business Network. “The key to this is the housing correction —- the price decline in housing,” Paulson said. Alba said lenders do think the government aid for financial markets will help housing —- eventually. At Wednesday’s debate, Democratic candidate Sen. Barack Obama said, “We’ve got to help homeowners.” Critics, from home builders to affordable-housing advocates, say Congress should do more. They say the options include forcing lenders to participate in the Hope program, allowing judges to rewrite mortgage terms for bankrupt homeowners, offering $20,000 tax credits for home buyers, and having the government refinance the mortgages of homeowners who owe more than their mortgages are worth.

THE DOMINO EFFECT

The national average 30-year mortgage rate has risen …

> January 2008, 5.69 percent

> October 2008, 6.46 percent

… and so has unemployment …

> January 2008, 4.9 percent

> September 2008, 6.1 percent

… sapping the Consumer Confidence Index …

> January 2008, 87.3

> September 2008, 59.8

… leaving more houses on the market

> 2007 average, 8.9 months’ supply

> August 2008, 10.4 months

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Alexander90210.com. Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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