Steven R. Smith

How Will the Housing Crisis End?

You miss the point so far that it is amazing. Lowered Lending standards allowed what happened to happen. Liberal Lending is a root cause of the problem of the run up in Housing Prices.

Prices need to come down more for them to once again be Affordable. Bringing prices down another 25% to 40% will solve the problem. That and never allow another loan to be made to someone who cannot afford it.

And put all of the Appraisal Whores in prison for a year or two, that should cause some sobriety in theri field.

You would only need to put 30,000-40,000 of them in jail, along with the 50,000 or 60,000 unlicensed people they had in the field doing the appraisals.