(EMAILWIRE.COM, November 16, 2009 ) Destin, Florida -- An over-whelming majority say Congress and other government policy makers will fail in their attempt to halt the foreclosure epidemic and get the U.S. economy back on track, according to a new Housing Predictor poll.
The survey found that the majority of those surveyed believe government attempts to stop the foreclosure crisis will fall short. The poll clearly indicates that Americans have lost confidence in Congressional leaders to solve the nation’s # 1 economic problem, which triggered the worst recession since at least the Great Depression. Get full details of the survey at Housing Predictor dot com.
Foreclosures compose the majority of home and condo sales nationally. Nearly 6-million adjustable rate mortgages will reset through 2010 and the over-whelming majority will be unable to refinance under current underwriting guidelines. As a consequence, millions of additional homes will go into foreclosure and provide an inventory of property to be sold at bargain prices, compounding problems in housing markets.
The repeal of the law enacted during the Great Depression to straighten out the economy took lobbyists almost a quarter of a century to have abolished, resulting in the worst real estate crisis the country has ever experienced. Housing values have fallen at record rates.
Housing Predictor forecasts more than 250 local housing markets in all 50 states. Check your market forecast, get the latest real estate news and search foreclosures at http://www.housingpredictor.com
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