Comments on: Schwarzenegger to offest housing slump by…building more houses? http://blownmortgage.com/2008/02/20/schwarzenegger-to-offest-housing-slump-bybuilding-more-houses/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Fri, 06 Nov 2009 14:02:46 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: zanon http://blownmortgage.com/2008/02/20/schwarzenegger-to-offest-housing-slump-bybuilding-more-houses/comment-page-1/#comment-9930 zanon Fri, 22 Feb 2008 01:12:41 +0000 http://blownmortgage.com/2008/02/20/schwarzenegger-to-offest-housing-slump-bybuilding-more-houses/#comment-9930 Houses in California are too expensive -- they are at higher multiples of price/earnings than in any other State. When housing kept increasing in value, the price did not matter -- people would take out huge loans, confident that rising prices would bail them out. But now that prices are falling, people will not buy, and the high cost of housing is still tying up huge amounts of capital that could go into other things. Building more houses will lower the price of California's housing. California's problem is not that housing is slumping, it's that housing is too expensive, and even currently falling prices are not falling enough. Houses in California are too expensive — they are at higher multiples of price/earnings than in any other State. When housing kept increasing in value, the price did not matter — people would take out huge loans, confident that rising prices would bail them out. But now that prices are falling, people will not buy, and the high cost of housing is still tying up huge amounts of capital that could go into other things.

Building more houses will lower the price of California’s housing. California’s problem is not that housing is slumping, it’s that housing is too expensive, and even currently falling prices are not falling enough.

]]> By: Graeme http://blownmortgage.com/2008/02/20/schwarzenegger-to-offest-housing-slump-bybuilding-more-houses/comment-page-1/#comment-9911 Graeme Thu, 21 Feb 2008 17:26:32 +0000 http://blownmortgage.com/2008/02/20/schwarzenegger-to-offest-housing-slump-bybuilding-more-houses/#comment-9911 While I agree that this might not "help" anything, it is good to see that the government is trying to do something. Without expanding the argument, this is the first time I have actually needed the government to do anything besides pave the highway! Any knowledge of what 15 Counties will be impacted by the loan limit increase? While I agree that this might not “help” anything, it is good to see that the government is trying to do something. Without expanding the argument, this is the first time I have actually needed the government to do anything besides pave the highway!

Any knowledge of what 15 Counties will be impacted by the loan limit increase?

]]> By: Schwarzenegger to offest housing slump by…building more houses? | The Long List of Odysseus Medal Nominees | Realtors and real estate, mortgages, lending, investments http://blownmortgage.com/2008/02/20/schwarzenegger-to-offest-housing-slump-bybuilding-more-houses/comment-page-1/#comment-9905 Schwarzenegger to offest housing slump by…building more houses? | The Long List of Odysseus Medal Nominees | Realtors and real estate, mortgages, lending, investments Thu, 21 Feb 2008 07:05:00 +0000 http://blownmortgage.com/2008/02/20/schwarzenegger-to-offest-housing-slump-bybuilding-more-houses/#comment-9905 [...] Schwarzenegger to offest housing slump by…building more houses?, by Morgan Brown. [...] [...] Schwarzenegger to offest housing slump by…building more houses?, by Morgan Brown. [...]

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