My broker and I were the only real estate agents warning about the housing bubble starting in 2004. We started writing formal reports in 2009 and even then people thought the house price dip was temporary. Our final report was written in January 2010.
Mission accomplished, for now. In an election year, the Administration is pulling out all the stops to save the banks, avoid the unpleasantries of foreclosures, and hasten an economic recovery by raising house prices. Money is no object: Last year, Fannie Mae lost $26.4 billion of taxpayer money participating in the Administration’s Home Affordable Modification Program (HAMP), and Treasury lifted the $400 billion loss cap on Fannie Mae and Freddie Mac. The Federal Reserve spent trillions to prop up the mortgage market.
I am no longer active in real estate.
What I Did For Sex [And What It Can Do For You], my sex memoir, is available as of April 2017.