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sdrealtor.
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April 12, 2009 at 9:26 AM #380183April 12, 2009 at 9:39 AM #379559
SD Realtor
ParticipantJP what you are seeing is the DIRECT result of the several policies that are in place. We have always seen posts saying that these policies will have no effect, that they will just amount to being seperate drops in the bucket.
We can only hope that these properties do make it to the market. However if they can dribble out, and be spread out over several years then the government will have been successful in controlling the inventory within the housing market. Another big question is what will the GSEs do. Arraya made a very good point.
Yes this may also mean that people who overextended themselves will get rewarded.
The problem is and has always been an egregious underestimation of what the forces of Wall St can do. All we can do is hope that they are overwhelmed with inventory and that the private entities that take all of the assetts off the banks books will dump them.
I guess we will see. I am hoping for that to happen.
April 12, 2009 at 9:39 AM #379829SD Realtor
ParticipantJP what you are seeing is the DIRECT result of the several policies that are in place. We have always seen posts saying that these policies will have no effect, that they will just amount to being seperate drops in the bucket.
We can only hope that these properties do make it to the market. However if they can dribble out, and be spread out over several years then the government will have been successful in controlling the inventory within the housing market. Another big question is what will the GSEs do. Arraya made a very good point.
Yes this may also mean that people who overextended themselves will get rewarded.
The problem is and has always been an egregious underestimation of what the forces of Wall St can do. All we can do is hope that they are overwhelmed with inventory and that the private entities that take all of the assetts off the banks books will dump them.
I guess we will see. I am hoping for that to happen.
April 12, 2009 at 9:39 AM #380014SD Realtor
ParticipantJP what you are seeing is the DIRECT result of the several policies that are in place. We have always seen posts saying that these policies will have no effect, that they will just amount to being seperate drops in the bucket.
We can only hope that these properties do make it to the market. However if they can dribble out, and be spread out over several years then the government will have been successful in controlling the inventory within the housing market. Another big question is what will the GSEs do. Arraya made a very good point.
Yes this may also mean that people who overextended themselves will get rewarded.
The problem is and has always been an egregious underestimation of what the forces of Wall St can do. All we can do is hope that they are overwhelmed with inventory and that the private entities that take all of the assetts off the banks books will dump them.
I guess we will see. I am hoping for that to happen.
April 12, 2009 at 9:39 AM #380060SD Realtor
ParticipantJP what you are seeing is the DIRECT result of the several policies that are in place. We have always seen posts saying that these policies will have no effect, that they will just amount to being seperate drops in the bucket.
We can only hope that these properties do make it to the market. However if they can dribble out, and be spread out over several years then the government will have been successful in controlling the inventory within the housing market. Another big question is what will the GSEs do. Arraya made a very good point.
Yes this may also mean that people who overextended themselves will get rewarded.
The problem is and has always been an egregious underestimation of what the forces of Wall St can do. All we can do is hope that they are overwhelmed with inventory and that the private entities that take all of the assetts off the banks books will dump them.
I guess we will see. I am hoping for that to happen.
April 12, 2009 at 9:39 AM #380188SD Realtor
ParticipantJP what you are seeing is the DIRECT result of the several policies that are in place. We have always seen posts saying that these policies will have no effect, that they will just amount to being seperate drops in the bucket.
We can only hope that these properties do make it to the market. However if they can dribble out, and be spread out over several years then the government will have been successful in controlling the inventory within the housing market. Another big question is what will the GSEs do. Arraya made a very good point.
Yes this may also mean that people who overextended themselves will get rewarded.
The problem is and has always been an egregious underestimation of what the forces of Wall St can do. All we can do is hope that they are overwhelmed with inventory and that the private entities that take all of the assetts off the banks books will dump them.
I guess we will see. I am hoping for that to happen.
April 12, 2009 at 9:49 AM #379564Allan from Fallbrook
ParticipantSDR: Wouldn’t you also say that logistics is playing a part, too? Meaning, the banks aren’t really staffed to handle the REOs portfolios they have.
Combine that with the fact that, when the banks auction properties off, they rarely sell and the banks wind up buying them right back. If they were to release the bulk of their inventories, the impact on pricing would be horrific.
April 12, 2009 at 9:49 AM #379834Allan from Fallbrook
ParticipantSDR: Wouldn’t you also say that logistics is playing a part, too? Meaning, the banks aren’t really staffed to handle the REOs portfolios they have.
Combine that with the fact that, when the banks auction properties off, they rarely sell and the banks wind up buying them right back. If they were to release the bulk of their inventories, the impact on pricing would be horrific.
April 12, 2009 at 9:49 AM #380019Allan from Fallbrook
ParticipantSDR: Wouldn’t you also say that logistics is playing a part, too? Meaning, the banks aren’t really staffed to handle the REOs portfolios they have.
Combine that with the fact that, when the banks auction properties off, they rarely sell and the banks wind up buying them right back. If they were to release the bulk of their inventories, the impact on pricing would be horrific.
April 12, 2009 at 9:49 AM #380065Allan from Fallbrook
ParticipantSDR: Wouldn’t you also say that logistics is playing a part, too? Meaning, the banks aren’t really staffed to handle the REOs portfolios they have.
Combine that with the fact that, when the banks auction properties off, they rarely sell and the banks wind up buying them right back. If they were to release the bulk of their inventories, the impact on pricing would be horrific.
April 12, 2009 at 9:49 AM #380193Allan from Fallbrook
ParticipantSDR: Wouldn’t you also say that logistics is playing a part, too? Meaning, the banks aren’t really staffed to handle the REOs portfolios they have.
Combine that with the fact that, when the banks auction properties off, they rarely sell and the banks wind up buying them right back. If they were to release the bulk of their inventories, the impact on pricing would be horrific.
April 12, 2009 at 10:00 AM #379569peterb
ParticipantThere’s been some recent articles in the news about shadow inventory and looks pretty convincing. But the banks have two strong reasons to hold back. The first is that actually selling the property forces it’s being marked to market…bad thing for their balance sheet. The second is that they would flood the market and force the price down to the floor in weeks.
And then there’s the banking apologists who explain that they’re just overwhelmed with NOD’s and it’s like the snake eating the elephant…..
But I have a sneaking feeling the all the derivatives attached to mortgages are so incredibly leveraged out that carnage will ensue if this all happens too quickly.
April 12, 2009 at 10:00 AM #379839peterb
ParticipantThere’s been some recent articles in the news about shadow inventory and looks pretty convincing. But the banks have two strong reasons to hold back. The first is that actually selling the property forces it’s being marked to market…bad thing for their balance sheet. The second is that they would flood the market and force the price down to the floor in weeks.
And then there’s the banking apologists who explain that they’re just overwhelmed with NOD’s and it’s like the snake eating the elephant…..
But I have a sneaking feeling the all the derivatives attached to mortgages are so incredibly leveraged out that carnage will ensue if this all happens too quickly.
April 12, 2009 at 10:00 AM #380024peterb
ParticipantThere’s been some recent articles in the news about shadow inventory and looks pretty convincing. But the banks have two strong reasons to hold back. The first is that actually selling the property forces it’s being marked to market…bad thing for their balance sheet. The second is that they would flood the market and force the price down to the floor in weeks.
And then there’s the banking apologists who explain that they’re just overwhelmed with NOD’s and it’s like the snake eating the elephant…..
But I have a sneaking feeling the all the derivatives attached to mortgages are so incredibly leveraged out that carnage will ensue if this all happens too quickly.
April 12, 2009 at 10:00 AM #380070peterb
ParticipantThere’s been some recent articles in the news about shadow inventory and looks pretty convincing. But the banks have two strong reasons to hold back. The first is that actually selling the property forces it’s being marked to market…bad thing for their balance sheet. The second is that they would flood the market and force the price down to the floor in weeks.
And then there’s the banking apologists who explain that they’re just overwhelmed with NOD’s and it’s like the snake eating the elephant…..
But I have a sneaking feeling the all the derivatives attached to mortgages are so incredibly leveraged out that carnage will ensue if this all happens too quickly.
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