Sacramento Association of REALTORS® Web Log

Did you hear? The Obama Administration just delivered a report to congress where it is outlining major reform to our housing market. What does this mean? According to Treasury Secretary Tim Geithner, they are laying out a plan for fundamental reform on a responsible timeline. The goal is to: 1. wind down the GSEs, 2. strengthen consumer protection, and 3. preserve access to affordable housing for people who need it.

In the long run I think the plan calls for some much needed reform in our markets, however those of you wanting to make moves in the housing market better do it now, as this is a sure sign of rising interest rates, Albeit probably for the better.

The Ideal is to fix the fundamental flaws in the mortgage market by shrinking the governments footprint while better targeting the government’s support for affordable homeownership and rental housing, but all in a responsible manner.

As I have said previously in my “War on Wealth” postings, less reliance on a “Big Government” will hopefully decrease the need for the government to unreasonably attack us where it hurts the most, our Pocket Books.

Sounds like a great goal. I wonder if the Special Interests can actually get behind this and help instead of constantly trying to throw a monkey wrench in the works. If we can learn to stop thinking bipartisan and actually chip in and help no matter who is in office, we just might be able to take back our lead and standing as the place to be.

The plan call for:

Continue reading: Obama To Provide Path To Major Reform Of America’s Housing Market