Re: Impossible process due to overwhelming volume and...

Posted by Elisa on October 31, 2008 at 08:51:47:

In Reply to: Re: Impossible process due to overwhelming volume and... posted by steele in minnesota on October 31, 2008 at 05:51:46:

Boy am I relieved that after I reeled back from the questioning of my opinion, that in Minnesota you are finding truth in the "frenzy". Here in Southern California, a qualified Buyer has to make Offers on ten or more properties, to even have one Accepted by the Bank - It's not the lack of Buyers out here by any means, the Banks can not handle the volume of Buyers. In that of course, my opinion may not be appropriate in the entire Country, but definitely I believe out here - where the big businesses handling ALL of the transactions are bringing in huge profits, while the transfer of ownership is clogged, surpressing the turn over from asset to cash for the Bank, surpressing neighborhoods, local economies, etc...All the while, if the Banks required the volume be spread amongst many, the end result would be capitalism at it's finest - spirit of competition would exist, jobs would be created, homeownership would be secured by many (or investment) and confidence would improve and the big wheel of what our economy is based upon would start to rev again !

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