Some folks on here seem to forget that money saved by renting vs. buying earns a return far in excess of capital deployed in housing.

Anyway, the simple fact that foreclosures began exploding in a decent economy belies the NAR’s HA Index. If houses actually were affordable, there would be far, far fewer foreclosures.

Lies, damned lies and real estate.

HAI home affordability index is manipulated just like the credit rating agencies’ defunct models.

“Let’s assume the same levels of defaults when everyone is allowed a liar loan and prices shoot the moon”

Unfortunately, the liars and lenders are now demanding money from the rest of us to bail them out. There should be more outrage.

Insurance companies who bought this BS will continue cutting coverage.

Pension funds are going bust.

Corporations will increase downsizing and outsourcing.

etc.

But yet some still see a bottom in the housing market.

NEVER I repeat NEVER in history have we seen such levels of foreclosures amidst the backdrop of low unemployment and low interest rates.

Once unemployment bottoms, option ARMs have recast and interest rates are at realistic levels then we might see a bottom. In the interim those in the frothiest of markets are being deceived to catch a falling knife.

Let’s at least demand disgorgement and convictions. It is the least we can do for future generations whose standard of living has just been destroyed.

Cioffi and Tannin should be the beginning of a very long list.

We should open a new prison/half-way house where these crooks could be on display and
share housing with all the foreclosure victims.

It would become a profitable tourist attraction. People could pay to visit and toss rotten tomatoes at the crooks.

What about “Ripe for Paying a Real Estate Commission Index”

Love the post!

As one would expect from a group of lying shills, it ALWAYS shows that houses are affordable.

Remember, this is from the people who tell you its ALWAYS a good time to buy or sell a house.