Tuesday April 1, 2008 | The Charlotte Housing Market

March 28, 2008 at 10:47 am | Posted in On Air | 3 Comments

The Charlotte housing market continues to buck national trends, even while it does suffer in its own ways.  A new group of experts has created an organization to track housing trends in the region and they join us to look at the latest moves by the federal government to stabilize the housing market.
Brian Pace
– President, Home Builders Association of Charlotte
Charles Myers – President, Myers Park Mortgage
Emma Littlejohn – The Littlejohn Group

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  1. I am tired of people saying that we should not help out those who took out these risky mortgages. Even if all of them were fully aware of the risks they were taking (which was clearly not the case), this is a self-destructive position to take. Those of us who are financially responsible also pay a heavy price when our system allows the kind of reckless behavior that fueled this housing bubble. We, too, lose jobs, home values, stock value, etc. when our economy is hit in this way. We desperately need a bailout to stop millions of foreclosures or we will see our economy get even worse.
    The only way to stop these kinds of bailouts is to get serious about instituting reasonable, fair regulations – and ENFORCING THEM! This protects the average person as well as the big money people. Financial institutions need to learn that this kind of boom and bust cycle hurts them, as well as the rest of us.

  2. By the way, the same goes for the credit card industry that has been willing to extend credit to people who are terrible risks – like 18 year olds – while lobbying for more protection against losses from bankruptcies.

  3. There was some miscommunication. PMI was not used because people had the option of using 80/10/10s or 80/15/5s. They were products that allowed people to avoid PMI. Also, I assure you, NO BANK WANTS YOUR HOUSE! It’s too expensive for us. We don’t have expertise in that.


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