Number of qualified house buyers is shrinking…

[AK]

Perhaps fewer people can qualify for financing … but I’d argue that of the people who qualify, more of them can afford a house.

BTW, thanks for the back-of-the-envelope analysis of a 10/1 IO ARM you did a few months back. I ran the numbers in detail and found out the payments will nearly triple if the 1-year LIBOR goes back to anything near historical norms!

[moneymaker]

So I take it points are also known as fees. I was always a little confused when I got my loan online from countrywide and was not sure where that half point went to, now I think I understand it went to the guy on the phones commission. Isn’t it interesting how all these terms can be twisted around. I got a good deal, so I’m happy, the wife’s happy so it’s a win-win scenario.- Now about the government propping up prices and HLS saying people should put 20% down. Now that just doesn’t make sense, if we are in an artificial price bubble the market could/should drop a lot more(when the government stops printing money) in that case who wants to be the smuck that put 20% down? If we are headed toward a Depression then it’s smarter to save money than spend it on a down payment.

[moneymaker]

So I take it points are also known as fees. I was always a little confused when I got my loan online from countrywide and was not sure where that half point went to, now I think I understand it went to the guy on the phones commission. Isn’t it interesting how all these terms can be twisted around. I got a good deal, so I’m happy, the wife’s happy so it’s a win-win scenario.- Now about the government propping up prices and HLS saying people should put 20% down. Now that just doesn’t make sense, if we are in an artificial price bubble the market could/should drop a lot more(when the government stops printing money) in that case who wants to be the smuck that put 20% down? If we are headed toward a Depression then it’s smarter to save money than spend it on a down payment.

[moneymaker]

So I take it points are also known as fees. I was always a little confused when I got my loan online from countrywide and was not sure where that half point went to, now I think I understand it went to the guy on the phones commission. Isn’t it interesting how all these terms can be twisted around. I got a good deal, so I’m happy, the wife’s happy so it’s a win-win scenario.- Now about the government propping up prices and HLS saying people should put 20% down. Now that just doesn’t make sense, if we are in an artificial price bubble the market could/should drop a lot more(when the government stops printing money) in that case who wants to be the smuck that put 20% down? If we are headed toward a Depression then it’s smarter to save money than spend it on a down payment.

[moneymaker]

So I take it points are also known as fees. I was always a little confused when I got my loan online from countrywide and was not sure where that half point went to, now I think I understand it went to the guy on the phones commission. Isn’t it interesting how all these terms can be twisted around. I got a good deal, so I’m happy, the wife’s happy so it’s a win-win scenario.- Now about the government propping up prices and HLS saying people should put 20% down. Now that just doesn’t make sense, if we are in an artificial price bubble the market could/should drop a lot more(when the government stops printing money) in that case who wants to be the smuck that put 20% down? If we are headed toward a Depression then it’s smarter to save money than spend it on a down payment.

[moneymaker]

So I take it points are also known as fees. I was always a little confused when I got my loan online from countrywide and was not sure where that half point went to, now I think I understand it went to the guy on the phones commission. Isn’t it interesting how all these terms can be twisted around. I got a good deal, so I’m happy, the wife’s happy so it’s a win-win scenario.- Now about the government propping up prices and HLS saying people should put 20% down. Now that just doesn’t make sense, if we are in an artificial price bubble the market could/should drop a lot more(when the government stops printing money) in that case who wants to be the smuck that put 20% down? If we are headed toward a Depression then it’s smarter to save money than spend it on a down payment.

[pertinazzio]

HLS

You wrote:

“Barney Frank, Up-Chuck Schumer, Carolyn Baloney, Christopher Dodd, Maxine Muddy-Waters all have blood on their hands in the housing bubble yet nobody confronts them.”

Could you please elaborate on this a little? I’ll be grateful. What did they do to bloody their hands?

Thanx

[pertinazzio]

HLS

You wrote:

“Barney Frank, Up-Chuck Schumer, Carolyn Baloney, Christopher Dodd, Maxine Muddy-Waters all have blood on their hands in the housing bubble yet nobody confronts them.”

Could you please elaborate on this a little? I’ll be grateful. What did they do to bloody their hands?

Thanx

[pertinazzio]

HLS

You wrote:

“Barney Frank, Up-Chuck Schumer, Carolyn Baloney, Christopher Dodd, Maxine Muddy-Waters all have blood on their hands in the housing bubble yet nobody confronts them.”

Could you please elaborate on this a little? I’ll be grateful. What did they do to bloody their hands?

Thanx

[pertinazzio]

HLS

You wrote:

“Barney Frank, Up-Chuck Schumer, Carolyn Baloney, Christopher Dodd, Maxine Muddy-Waters all have blood on their hands in the housing bubble yet nobody confronts them.”

Could you please elaborate on this a little? I’ll be grateful. What did they do to bloody their hands?

Thanx

[pertinazzio]

HLS

You wrote:

“Barney Frank, Up-Chuck Schumer, Carolyn Baloney, Christopher Dodd, Maxine Muddy-Waters all have blood on their hands in the housing bubble yet nobody confronts them.”

Could you please elaborate on this a little? I’ll be grateful. What did they do to bloody their hands?

Thanx

[patientrenter]

“who wants to be the smuck that put 20% down?”

As a taxpayer, I don’t want to be that smuck [sic]. So I’d actually like the minimum downpayment on govt-supported loans to be 30-40% until market prices come down closer to stable levels. If we did that, they’d come down in a hurry, and we could move back to 20% quickly, but at a whole new sustainable price level. Yeah, I know, I’ll just dream on. Barney Frank and Dodd and Schumer would never permit it.

Frank, Dodd and Schumer are the guardian angels of the easy housing money industry. As you know, the laws are made in Congress, and these guys made sure that vast amounts of poorly underwritten loans were made through the laws they supported and their power over regulators and companies like Fannie Mae and Freddie Mac. Others in power just went along, or were luke-warm, or are less powerful, but these guys fought like big feral cats for more liberal lending.

[patientrenter]

“who wants to be the smuck that put 20% down?”

As a taxpayer, I don’t want to be that smuck [sic]. So I’d actually like the minimum downpayment on govt-supported loans to be 30-40% until market prices come down closer to stable levels. If we did that, they’d come down in a hurry, and we could move back to 20% quickly, but at a whole new sustainable price level. Yeah, I know, I’ll just dream on. Barney Frank and Dodd and Schumer would never permit it.

Frank, Dodd and Schumer are the guardian angels of the easy housing money industry. As you know, the laws are made in Congress, and these guys made sure that vast amounts of poorly underwritten loans were made through the laws they supported and their power over regulators and companies like Fannie Mae and Freddie Mac. Others in power just went along, or were luke-warm, or are less powerful, but these guys fought like big feral cats for more liberal lending.

[patientrenter]

“who wants to be the smuck that put 20% down?”

As a taxpayer, I don’t want to be that smuck [sic]. So I’d actually like the minimum downpayment on govt-supported loans to be 30-40% until market prices come down closer to stable levels. If we did that, they’d come down in a hurry, and we could move back to 20% quickly, but at a whole new sustainable price level. Yeah, I know, I’ll just dream on. Barney Frank and Dodd and Schumer would never permit it.

Frank, Dodd and Schumer are the guardian angels of the easy housing money industry. As you know, the laws are made in Congress, and these guys made sure that vast amounts of poorly underwritten loans were made through the laws they supported and their power over regulators and companies like Fannie Mae and Freddie Mac. Others in power just went along, or were luke-warm, or are less powerful, but these guys fought like big feral cats for more liberal lending.

[patientrenter]

“who wants to be the smuck that put 20% down?”

As a taxpayer, I don’t want to be that smuck [sic]. So I’d actually like the minimum downpayment on govt-supported loans to be 30-40% until market prices come down closer to stable levels. If we did that, they’d come down in a hurry, and we could move back to 20% quickly, but at a whole new sustainable price level. Yeah, I know, I’ll just dream on. Barney Frank and Dodd and Schumer would never permit it.

Frank, Dodd and Schumer are the guardian angels of the easy housing money industry. As you know, the laws are made in Congress, and these guys made sure that vast amounts of poorly underwritten loans were made through the laws they supported and their power over regulators and companies like Fannie Mae and Freddie Mac. Others in power just went along, or were luke-warm, or are less powerful, but these guys fought like big feral cats for more liberal lending.

[Author]

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