Tuesday, May 26, 2009

Thirty-Nine Per Cent of N.C. Realtors Disapprove of Obama

Of course, the primary industry that is hurting, and the industry that started the economic meltdown, has been the banking, mortgage, and real estate industry.

The Obama real estate plan has attempted to subsidize mortgage interest rates so that payments are capped at 31% of household income for troubled borrowers. More than 55,000 homeowners have received modifications, which should have led to significant stabilization of the national real estate market. And after initially pledging $75 billion to this project, the administration has announced that it is expanding the program to include more borrowers.

"These are critical steps in stemming the foreclosure crisis and stabilizing the housing market, both of which are critical to our economic recovery," said Treasury Secretary Tim Geithner.

During the week of May 14, homes in danger of foreclosure jumped 32%, however.

Even the administration offering an $8,000 tax break to new home purchasers, and the consequent monetization of that tax credit, i.e, allowing the tax credit to be used as a portion of a down payment, the stimulus plan has had little effect on the housing market.

HomeGain.com surveys Realtors as to their outlook (both nationally and regionally) on the housing market. The North Carolina market outlooks were recently posted on HomeGain.com's blog.

With all of this stimulus activity, 39% of Realtors disapprove of Obama's job performance.

Now of course, that lack of support could be the result of racism, or it could come from a simple realization that not only is the stimulus not helping either the general economy or the housing market. Obama's supporters will assert the first.

But which is more likely?

1 comment:

  1. RBC Bank President Gordon Nixon - Salary $11.73 Million


    I'm a commercial fisherman fighting the Royal Bank of Canada (RBC Bank) over a $100,000 loan mistake. I lost my home, fishing vessel and equipment. Help me fight this corporate bully by closing your RBC Bank account.

    There was no monthly interest payment date or amount of interest payable per month on my loan agreement. Date of first installment payment (Principal + interest) is approximately 1 year from the signing of my contract.
    Demand loan agreements signed by other fishermen around the same time disclosed monthly interest payment dates and interest amounts payable per month.The lending policy for fishermen did change at RBC from one payment (principal + interest) per year for fishing loans to principal paid yearly with interest paid monthly. This lending practice was in place when I approached RBC.
    Only problem is the loans officer was a replacement who wasn't familiar with these type of loans. She never informed me verbally or in writing about this new criteria.

    Phone or e-mail:
    RBC President, Gordon Nixon, Toronto (416)974-6415
    RBC Vice President, Sales, Anne Lockie, Toronto (416)974-6821
    RBC President, Atlantic Provinces, Greg Grice (902)421-8112 mail to:greg.grice@rbc.com
    RBC Manager, Cape Breton/Eastern Nova Scotia, Jerry Rankin (902)567-8600
    RBC Vice President, Atlantic Provinces, Brian Conway (902)491-4302 mail to:brian.conway@rbc.com
    RBC Vice President, Halifax Region, Tammy Holland (902)421-8112 mail to:tammy.holland@rbc.com
    RBC Senior Manager, Media & Public Relations, Beja Rodeck (416)974-5506 mail to:beja.rodeck@rbc.com
    RBC Ombudsman, Wendy Knight, Toronto, Ontario 1-800-769-2542 mail to:ombudsman@rbc.com
    Ombudsman for Banking Services & Investments, JoAnne Olafson, Toronto, 1-888-451-4519 mail to:ombudsman@obsi.ca





    "Fighting the Royal Bank of Canada (RBC Bank) one customer at a time"