As I see it In the entire history of the United States we have never experienced an economic crisis of this origin... in residential real estate. Congres, The Fed, Treasury are applying top down answers to a bottom up crisis. These methods cannot provide the rapid repair that is required to keep the majority of Americans whole... left unchecked the free fall in real estate will cause this down turn to continue for no less than another three years. In fact it is just because of the current procedures that the states and local governments have been placed in such dire straights. Within my Blog, http://stanbrody.blogspot.com/ , I have laid out a solution that will keep the lenders whole, halt the decline in real estate values, allow owners to retain home ownership, halt the hemorrhage in the real estate tax base, stabilize neighborhoods and infuse over $150 billion back into the economy, thereby staving off the commercial real estate crash, and creating jobs.
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