Banks and the Government as Landlords?

Goodness we are well into our  first week 2012!

 2012 could be another interesting year. The Feds are thinking of becoming real estate gurus. Or at the very least they are thinking of allowing a  REO rental program that will be government-sponsored. Their thoughts are if they don’t put many of the homes that are already in foreclosure on the market and the many coming up on the market it will help stablize the housing pricing and not push it down any lower. 

Well, here is my opinion of this…….let the government and banks do their jobs and let us professionals in the business of real estate do our jobs! The government has no business in being landlords and the banks have no business being landlords. They need to start putting the homes that are foreclosed slowly on the market and allow people who want a home to purchase homes. Home ownership is the best way to “fix” our economy,NOT allowing the government to run the business of renting homes. We need to put these homes that are affordable for the first time home buyers on the market so they can buy a home.  

I don’t want the banks to flood the market and make home prices drop, but if we keep holding on to the homes and driving pricing up, many that could afford the homes under 100k are not given the chance because of not enough homes on the market! 

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