On Thu, 27 Mar 2008 20:21:43 -0400, "Eisboch" wrote:


"Short Wave Sportfishing" wrote in message
.. .


I still think I have the right solution - but nobody pays attention to
me. :)


Read your post with interest. (no pun intended)

I snipped it just for brevity here.


I think I agree with the plan, after reading your explanation and thinking
about it some more.
One of the arguments against it was that the re-valued properties would also
tend to de-value
the property of those who have been paying consciensously. But ... housing
values are dropping anyway and
*all* had become overvalued.

Exactly right - it's hurting everybody, not just those who made stupid
bets or stupid loans.

So, in the interest of stabilizing the industry and trying to recover
some kind of value and establish a floor, it requires that the GSEs do
their thing and make that happen.

The interesting thing is that if the GSEs did this, it doesn't cost
the taxpayers anything and in fact, it will actually make money.

I noticed another very interesting thing about a month ago. Zillow.com
publishes estimated market values for properties based on recorded data in
the registry of deeds, local market factors and a bunch of other components
that they feed into their calculator.
Their estimated house values peaked several months ago, and has been
dropping ever since. But, what is interesting is that they recalculated
the estimated historical value as well. In other words, the peak value
published a year ago no longer exists in their data base.

Everything was dropped, and by a considerable amount, depending on the
particular house value.

Zillow has a chart feature on houses - if you go to the bottom of the
page to the charts section, you can do a 1, 5 or 10 year average along
with all kinds of intersting data that involves time.

It does keep historical data - I can send you a link via email that
shows the historical data for a house I own in Danielson.