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Real Estate Chart of the Day
Real estate values are determined by supply and demand. Of course, with the current housing stock plus the potential shadow inventory weighing heavily on the supply side, strong demand is needed to keep home prices from falling.
Hopes are pinned to the government’s REO-To-Rental program.
Announced February 1, 2012, the government's REO-To-Rental program aims to turn foreclosed Fannie, Freddie and FHA properties into rentals, a move expected to create close to 1 million jobs in construction- and real estate-related businesses, and to be financed via private capital (i.e. not via the U.S. taxpayer).
Analysts have heaped praise upon the REO-To-Rental program. Many believe it's the best housing fix so far, better than the refinancing proposals mentioned in the State of the Union. The REO-To-Rental program presents a great long-term opportunity for private investors. The timing is ideal.
The backlog of distressed U.S. home remains at unhealthy levels. A national REO rental program could help reduce inventory which, in turn, would benefit the macro U.S. economy -- especially because it's become clear that relying on banks, Fannie Mae and Freddie Mac to dispose of housing assets one-at-a-time will take too long.
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