We have found that people are definitely looking at
homes for sale in La Jolla and San Diego, but the
problem for many is the fact that they cannot obtain financing, or they already have a home and must
sell it before buying another, but the house they are living in is not selling.
In addition, many people are still very nervous and not sure when this housing market will bottom out. At this
time, there does not seem to be much confidence in it and the government rescue package seems to have
done very little to boost activity.
"What bothers me is the fact that all this bailout business is due to irresponsible lenders and people who
bit off more than they could chew, buying a home or homes they couldn't afford. Now we are all paying for it" says
Uarania.
As of now, there are over four million people / families that are behind at least a month on their house payment and nearly
half a million have already started going into foreclosure. The U.S. Treasury will now have more authority to step in by
purchasing mortgages on a massive scale, which will allow people to stay in their homes longer and / or not lose them. The
question on people's minds, however, is if they will act fast enough.
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