On Monday March 26, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.
Listen to the show.
Part 1 (15:18)
Ryan and Louis discuss the controversy regarding the allegations of a Congressional Budget Office employee who claims that the CBO prohibited statements in their reports indicating that foreclosures had an impact on the housing market and that the decline in housing prices had an impact on household wealth.
Louis notes that economic data is often politicized as data can be included and excluded according to political aims. Louis notes that manipulation can also occur in the unemployment and inflation data. Louis notes that the Federal Reserve official manipulates the market and therefore its not surprising that economic data is also subject to manipulation.
Louis notes that statistics and science are also manipulated in other areas ie. cigarettes and cancer and global warming findings. Ryan and Louis discuss shadow inventory and foreclosures impact on the market.
Louis notes that bad assets should have been sold off by the banks rather than having been bailed out. Louis notes that the current low interest environment forces savers to put their money into stocks. Louis notes a recovery can be built on savings, but that with low interest rates borrowing, rather than savings is encouraged.