Toby Tobin Quoted Again in a Washington Post Story

”Florida primary forces GOP candidates to face the dreaded housing question” by Michael Fletcher

Palm Coast, FL – January 24, 2012 – For the second time in the past year, publisher Toby Tobin was quoted in a Washington Post article by Michael Fletcher. The article ran yesterday. It addressed the presidential candidates’ difficulty in dealing with the housing problem, especially in Florida where the issue is more acute than in most other primary states. As in the previous article, I provided background information. A few quotes were attributed to me.

In northeast Florida’s Flagler County, median prices have plunged from $260,000 in June 2008 to $120,000 now, according to Don “Toby” Tobin, who runs a real estate Web site called Go­ About half of transactions are distress sales — either foreclosures or short sales. In addition, many buyers are using cash, because home mortgages are hard to come by for people with less-than-perfect credit.

“We have seen a tremendous amount of damage, and it is all on the property-owner level,” Tobin said.

Candidates are ducking the issue. There is no “good” solution to the housing issue that will not upset at least one important constituency. It’s like trying to fix social security or Medicare. Acknowledgment of the problem begets few bold solutions; of which none are likely to be adopted.
The proposed settlement between state attorneys general and five major banks will let the lenders off with a "slap on the wrist" and let them off the hook on future prosecution. Very little of the proposed $25 billion will find its way to devastated homeowners, regardless of their party affiliation.
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