HangingOnByAThread

Calling a Housing Bottom

Would be interested to hear your perspective on how the mortgage refinancing legislation will impact a potential bottom to the housing market. It seems it does nothing to truly create a bottom, but only slows the decline in home prices, ensuring those purchasing today will watch their home value decline over time. Am curious what happens to those that find themselves upside down re. home value to mortgage in the future. Is there a safety net for these folks say 5 - 10 years out?