CAARE is Consumer Advocates in American Real Estate and we are a 501(c)3 non-profit public charity (click here for link to our status on the IRS website).
Who or what caused the mortgage melt-down?
While a lot of attention is being focused on multi-billion dollar Wall Street firms that gambled and lost on risky debt, we believe a huge underlying cause that has yet to receive as much rightful blame for this catastrophe is the real estate industry. We believe conflicts of interest and self dealing have eroded the foundations of the residential real estate industry to the lasting detriment of consumers, many of whom now find themselves dispossessed of their most important investment, their homes.
Something bad has happened to the way American real estate gets transacted. The huge amount of damage to our economy is in direct proportion to the complexity and severity of the problems that still exist in the residential real estate industry. To cause such extensive damage the problem goes far deeper than just the mortgage industry. If anything, that industry is just the "fall guy" for a far larger problem. The problem encompasses the whole residential industry. Most of the responsible parties have yet to be investigated for their part.
On our website, we describe the problems that exist in the residential real estate market and offer solutions that involve re-introducing free market forces and removing anti-competitive and unfair business practices.
PROJECTS (click here) Here is where we need the most help.