The housing market and real estate industry is in a slump, brought on in most part by bad economic decisions, risk taking and overspeculating. But instead of assigning blame, its now time for all role players and affected parties to stand together and the economy on a path to recovery, however long that might take.
After the subprime crisis of 2007 and the mortgage meltdown of 2009, it was a time of change, maybe the start of a whole new real estate industry. This report provided both brokers and agents with a large selection of recommendations regarding issues that they could and should be focused on to position their business for the future.
The economic downturn has hit the housing market hard, affecting all segments of the industry and resulting in a downward spiral of foreclosures, mortgage debt, and shortsales. While government, financial institutions, corporates, and lawmakers have begun intervening to jumpstart a recovery process, a solution is a long way off and agents and brokers need to be aware of the challenges and be able to navigate difficult situations to facilitate any future buying and selling processes.
At the start of 2010 the real estate industry faced an economy that was struggling to find a way out of the recession, a bunch of aggressive government bailouts had been propping up the market that at the same time was utilizing taxpayer dollars to restock the corporate bank accounts. This report presents various views of what may lay ahead for the economy.
In 2012 the economy continued to struggle, unemployment remained high, homeowners and now homeownership and the mortgage interest deduction were coming under attack. This report presents different sides and opinion on homeownership at the time.