I don’t understand how will this bill change any of that? Will it force people to purchase property for more than its market value? Will it force people to pay more for a house then they are currently willing to pay today? No, of course not.
Mark my word, there is nothing the government can do short of passing a bill that makes it illegal to sell a home for less than it was purchased for that will arrest the slide in housing prices.
The die has been cast, mortgages will now be restricted to those people who can prove their income, have a down-payment and will be most likely limited to 2-1/2 times earnings. Here in Florida that means homes will most likely drop another 25% before its is all over irregardless of what the government does or doesn’t do.
Add to that the fact that foreclosed homes need to be inspected more than an occupied one.
Add to that the fact that the number of households being formed in the U.S. is drastically increasing and households need homes.
Add to that the fact that those who walked from their homes but had otherwise fairly good credit, are going to be able to get a mortgage as if nothing happened.
Add to that the fact that investors are swarming like sharks and investors do inspections.
Add to that the fact that so many small businesses left their buildings or moved and commercial vacancy is up and commercial property sales are increasing and all need to be inspected.
Add tp that the whole mold issue regarding vacant homes.
Add to that the recent storms and the damage it caused.
That’s it… I’m going back into the inspection business.
I understand that, but in their own self interests ($$$) seems someone would be smart enough to hire someone to run a potential profit center.
I know if I had 200 IR inspections in the pipeline I would certainly hire someone who has the tools and training that I don’t have on order to capitalize on the situation.
