Way to articulate you intelligence. With respect to changes in payments when it comes to 30 year vs 40 years I think the point being missed is that finance people have the ability to change with the markets. Interest only, option ARMS, Neg Am Loans. What will the next product be? Your guess is as good as mine. The reality is that these people do not profit when people can pay them back.
Others strings have talked about the sub prime market. Tightening credit will eliminate marginal buyers keeping them in renter status and will take prime borrowers and potentially move them into the sub prime market.
As for laughing about a downturn. You’re a joke. That is like the idiot owner who gets upset when someone is rooting for the market to go down. I don’t control the market and I rent at the moment. I hope to find what I like at a price I can afford. Right now it is a needle in a haystack and I am too busy to look. Hopefully opportunities will become more abundant in the not so distant future. Good luck with the negativeity JWM. I am sure it is getting you ahead in this world.
