aguho, can you provide more details on the housing and mortgage markets, as seen by your colleagues and friends? Why do they have to prove their income now? Are no doc loans losing favor? Why don’t the mortgage people go after the ARM borrowers and sell them 30 year fixed rate mortgages? That to me seems like a huge market.
I’d also like to hear whether the inventory is up because the listings are just piling up, while sales are down, so the new listings are added to the old ones, bringing up the inventory. At some point, we should see more sellers, like all those ARM people and unemployed title/loan officers. Has there been an increase in listings, or is inventory high only because sales are low?
