10 Million Homeowners Have Incentives to Walk

[Huckleberry]

I heard on CNBC this morning that ten different industry groups got together and signed a letter to Congress stating the urgency to supplement/augment the IndyMac/FDIC home loan rework programs.

They are stressing that without additional monies to actually support home prices, the bailout will not accomplish much, as home prices will continue to decline.

CNBC commentators actually agreed and stated they believe more home owner bailouts/house price stabilization provisions are on the way.

Is anyone hearing the same crap? I guess 700 billion isn’t enough of our tax dollars. We are now going to get gouged even more, to support housing prices and dumb ass purchasers.

[underdose]

Brilliantly said, CA Renter! You hit the nail on the head.

Furthermore, I suspect all these restructuring of loans ideas will fall prey to the same thing that Greenspan’s monetary policy did: the dreaded unintended consequences. What cans o’ worms will this open? What worse hell will this bring upon us?

[underdose]

Brilliantly said, CA Renter! You hit the nail on the head.

Furthermore, I suspect all these restructuring of loans ideas will fall prey to the same thing that Greenspan’s monetary policy did: the dreaded unintended consequences. What cans o’ worms will this open? What worse hell will this bring upon us?

[underdose]

Brilliantly said, CA Renter! You hit the nail on the head.

Furthermore, I suspect all these restructuring of loans ideas will fall prey to the same thing that Greenspan’s monetary policy did: the dreaded unintended consequences. What cans o’ worms will this open? What worse hell will this bring upon us?

[underdose]

Brilliantly said, CA Renter! You hit the nail on the head.

Furthermore, I suspect all these restructuring of loans ideas will fall prey to the same thing that Greenspan’s monetary policy did: the dreaded unintended consequences. What cans o’ worms will this open? What worse hell will this bring upon us?

[underdose]

Brilliantly said, CA Renter! You hit the nail on the head.

Furthermore, I suspect all these restructuring of loans ideas will fall prey to the same thing that Greenspan’s monetary policy did: the dreaded unintended consequences. What cans o’ worms will this open? What worse hell will this bring upon us?

[kewp]

Perhaps you consider falling asset prices a bad thing, but many of us think it’s the best thing that could ever happen to this country.

A tip of the hat to you, sir.

Whats really going to happen? 100% unemployment? Armageddon?

Nope.

Those of us that provide valuable products and services will always be able to find employment.

And you know what? We will be able to enjoy deflated assets at bargain prices as the fruits of our labor.

Sounds like paradise to me, personally.

[kewp]

Perhaps you consider falling asset prices a bad thing, but many of us think it’s the best thing that could ever happen to this country.

A tip of the hat to you, sir.

Whats really going to happen? 100% unemployment? Armageddon?

Nope.

Those of us that provide valuable products and services will always be able to find employment.

And you know what? We will be able to enjoy deflated assets at bargain prices as the fruits of our labor.

Sounds like paradise to me, personally.

[kewp]

Perhaps you consider falling asset prices a bad thing, but many of us think it’s the best thing that could ever happen to this country.

A tip of the hat to you, sir.

Whats really going to happen? 100% unemployment? Armageddon?

Nope.

Those of us that provide valuable products and services will always be able to find employment.

And you know what? We will be able to enjoy deflated assets at bargain prices as the fruits of our labor.

Sounds like paradise to me, personally.

[kewp]

Perhaps you consider falling asset prices a bad thing, but many of us think it’s the best thing that could ever happen to this country.

A tip of the hat to you, sir.

Whats really going to happen? 100% unemployment? Armageddon?

Nope.

Those of us that provide valuable products and services will always be able to find employment.

And you know what? We will be able to enjoy deflated assets at bargain prices as the fruits of our labor.

Sounds like paradise to me, personally.

[kewp]

Perhaps you consider falling asset prices a bad thing, but many of us think it’s the best thing that could ever happen to this country.

A tip of the hat to you, sir.

Whats really going to happen? 100% unemployment? Armageddon?

Nope.

Those of us that provide valuable products and services will always be able to find employment.

And you know what? We will be able to enjoy deflated assets at bargain prices as the fruits of our labor.

Sounds like paradise to me, personally.

[coxapple]

Guys,

I really would like to know why the solution is not partly renting en masses. If the banks and MBS service agents, or the government in their stead (after buying up the mortgages) rent out the foreclosed properties (first offer to the foreclosee and then anyone), the downward spiral could be halted before it seriously undershoots and hence prevent more damage to the financial economy/fiscal position (the latter two being the same thing these days!).

Banks and MBS agents don’t rent in practice so this is something the government can do. In most areas , the rent will cover the cost of carry for the mortgage assets (written down) that the tax payer has acquired because rental yield in the higher foreclosure areas are good (some extreme exurbs exempted perhaps as renters may be scarce).

Thanks

Graham

[coxapple]

Guys,

I really would like to know why the solution is not partly renting en masses. If the banks and MBS service agents, or the government in their stead (after buying up the mortgages) rent out the foreclosed properties (first offer to the foreclosee and then anyone), the downward spiral could be halted before it seriously undershoots and hence prevent more damage to the financial economy/fiscal position (the latter two being the same thing these days!).

Banks and MBS agents don’t rent in practice so this is something the government can do. In most areas , the rent will cover the cost of carry for the mortgage assets (written down) that the tax payer has acquired because rental yield in the higher foreclosure areas are good (some extreme exurbs exempted perhaps as renters may be scarce).

Thanks

Graham

[coxapple]

Guys,

I really would like to know why the solution is not partly renting en masses. If the banks and MBS service agents, or the government in their stead (after buying up the mortgages) rent out the foreclosed properties (first offer to the foreclosee and then anyone), the downward spiral could be halted before it seriously undershoots and hence prevent more damage to the financial economy/fiscal position (the latter two being the same thing these days!).

Banks and MBS agents don’t rent in practice so this is something the government can do. In most areas , the rent will cover the cost of carry for the mortgage assets (written down) that the tax payer has acquired because rental yield in the higher foreclosure areas are good (some extreme exurbs exempted perhaps as renters may be scarce).

Thanks

Graham

[coxapple]

Guys,

I really would like to know why the solution is not partly renting en masses. If the banks and MBS service agents, or the government in their stead (after buying up the mortgages) rent out the foreclosed properties (first offer to the foreclosee and then anyone), the downward spiral could be halted before it seriously undershoots and hence prevent more damage to the financial economy/fiscal position (the latter two being the same thing these days!).

Banks and MBS agents don’t rent in practice so this is something the government can do. In most areas , the rent will cover the cost of carry for the mortgage assets (written down) that the tax payer has acquired because rental yield in the higher foreclosure areas are good (some extreme exurbs exempted perhaps as renters may be scarce).

Thanks

Graham

[Author]

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