Housing Foreclosure Crisis

I think if they'd just rent them to the owner and do something about a "rent to buy" kind of thing, but that'd be more work than anyone "up there" wants to be bothered to do. It'd help and make sense. But the alternate problem that this is causing hasn't hit the fan just yet - but well on its way .... I am looking for an apartment and they are so expensive...problem from the poeple that were paying $2,000 a month for their house and then because they didn't read what they were signing and didn't allow for the ARM - Adjusted Rate Mortgage - and allow for that adjustment in their budget in the next 3 years, now they can't afford the $4,000 a month so they get foreclosed. However, since they were affording the $2000 a month, apartments are capitalizing on that and a 2x2 goes for $1800-$2000 (about 1000-1200 sq.ft) easy here in Southern Calif. These places literally change rents daily! It is like the stock market and that is somethign they should be looking at to stop. I have called one day for a rental price and called back 3 days later and the rent went up. I finallyasked about it and they told me themselves, the rents change daily. This is nothing but price gouging because they can.

I'm not really sure how that would work. I dont know how many people actually want to rent properties. It's an idea though.

I don't think that would stabilize things, but it might bring relief to people who are looking for affordable housing. They'd have to rent them at reasonable prices to do that. In reality, I don't think anyone can do much right now, except those in high places who pull the strings and apparently they're not ready.