Lately, a lot of articles, interviews & blogs have been written on solutions to fix our real estate woes. Here is an interesting one from Inman News. The main theme is to help ailing homeowners that are suffering with adjustable mortgage rates…which may not be the real answer.
There seems to be a couple of ideas that I am surprised have not made it to the mainstream 
media.
- The banks should make it easier to purchase foreclosure properties. If any of you out there have attempted to make an offer on a short sale or a foreclosure…it can be a nightmare process. Some banks take up to six weeks or more to accept a purchase offer. The banks need to cut the red tape & make these properties more accessible to Buyers. Banks are hiring Realtors to find Buyers, but make the qualified Buyers & their Realtors jump through hoops of fire to make the sale.
- I personally, believe that we cannot bail out every homeowner that cannot pay their mortgage. What I do believe should happen is that if you sell your home at a legitimate loss, then the government should consider making these losses an additional tax write-off or credit of some sort to offset your loss.
- The key is SAVINGS! It is a simple concept! Generations before us worked hard & saved money. Our elders did not live on credit cards & 100% financing. Certainly in past generations a home was not considered your personal piggy bank. Owning a home is the American Dream, not the American Right. We have to instill in all Americans to save for a home, to save for retirement & to save for security. The federal government should reward those of us that save our monies, because when times are tough, those of us with savings can truly stimulate the economy.
Well that just my two cents! Hopefully we will do our part by making 2008 the year in which we save a little more for the rainy days to come! Good Luck to us all!