Best Housing Rant, Ever
Today I'm reporting on CNBC's All-America Economic Survey, focusing on how Americans feel about their home values.
One in four says the homes they live in are worth less than what they paid.
One in four also believe their home values will decrease even more over the next year.
That last figure is up from 14 percent just in December, and it's the highest level of pessimism since we started asking the question four years ago.
Perhaps most amazing (well, not if you live in California, like I do), nearly half of us know someone who has either gone through a foreclosure or is threatened with one. In the West, it's even higher, 58 percent.
We all know that more bad news in housing is on the way until employment improves. But you would think that by now banks would have worked out all the problems with short sales...the delays, the confusion, the missed opportunities.
In what may be the best anti-bank rant yet, North Carolina realtor Leigh Brown goes off on Bank of America . Brown claims that days after a short sale closed in January, Bank of America sent in a "trash out" crew to re-key the home and throw out all of the buyer's possessions. Listen to what happens next.
The video has been seen by a few thousand people and once again proves the effectiveness of social media. According to the Charlotte Observer, Bank of America now wants to "make it right" to the buyers. What happened was a "fairly rare situation," said spokesman Rick Simon.
Rare or not, Brown warnsthat if others are going through the same grief, "call or email me because I'm going to bat!"
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