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34f3f3fParticipant
I have read several reports that 2010/11 will be a bad year for CRE. It’s seen 40% price declines already, and regional banks are going to get a clobbering. Some say CRE will look after itself, which is probably true to an extent, but that won’t diminish the scale, and knock on effects. For example, many renter are finding themselves out of a home. Investors are no doubt eagerly watching this one, and demanding higher cap rates, which may be tricky given higher vacancy rates, and downward pressure on rents. Overall I’m surprised at the low profile CRE crisis gets.
34f3f3fParticipantI have read several reports that 2010/11 will be a bad year for CRE. It’s seen 40% price declines already, and regional banks are going to get a clobbering. Some say CRE will look after itself, which is probably true to an extent, but that won’t diminish the scale, and knock on effects. For example, many renter are finding themselves out of a home. Investors are no doubt eagerly watching this one, and demanding higher cap rates, which may be tricky given higher vacancy rates, and downward pressure on rents. Overall I’m surprised at the low profile CRE crisis gets.
34f3f3fParticipantI have read several reports that 2010/11 will be a bad year for CRE. It’s seen 40% price declines already, and regional banks are going to get a clobbering. Some say CRE will look after itself, which is probably true to an extent, but that won’t diminish the scale, and knock on effects. For example, many renter are finding themselves out of a home. Investors are no doubt eagerly watching this one, and demanding higher cap rates, which may be tricky given higher vacancy rates, and downward pressure on rents. Overall I’m surprised at the low profile CRE crisis gets.
34f3f3fParticipantI have read several reports that 2010/11 will be a bad year for CRE. It’s seen 40% price declines already, and regional banks are going to get a clobbering. Some say CRE will look after itself, which is probably true to an extent, but that won’t diminish the scale, and knock on effects. For example, many renter are finding themselves out of a home. Investors are no doubt eagerly watching this one, and demanding higher cap rates, which may be tricky given higher vacancy rates, and downward pressure on rents. Overall I’m surprised at the low profile CRE crisis gets.
March 23, 2010 at 6:27 PM in reply to: First stated income. Then stated assets. Now … stated title?!?!?!? #53010634f3f3fParticipantThe finger pointers don’t exactly have a clean slate. When I approached BofA about a loan, they approved it misstating my declared income by 30%, making the loan offer a joke. I turned it down on the grounds of incompetence.
March 23, 2010 at 6:27 PM in reply to: First stated income. Then stated assets. Now … stated title?!?!?!? #53023434f3f3fParticipantThe finger pointers don’t exactly have a clean slate. When I approached BofA about a loan, they approved it misstating my declared income by 30%, making the loan offer a joke. I turned it down on the grounds of incompetence.
March 23, 2010 at 6:27 PM in reply to: First stated income. Then stated assets. Now … stated title?!?!?!? #53068534f3f3fParticipantThe finger pointers don’t exactly have a clean slate. When I approached BofA about a loan, they approved it misstating my declared income by 30%, making the loan offer a joke. I turned it down on the grounds of incompetence.
March 23, 2010 at 6:27 PM in reply to: First stated income. Then stated assets. Now … stated title?!?!?!? #53078334f3f3fParticipantThe finger pointers don’t exactly have a clean slate. When I approached BofA about a loan, they approved it misstating my declared income by 30%, making the loan offer a joke. I turned it down on the grounds of incompetence.
March 23, 2010 at 6:27 PM in reply to: First stated income. Then stated assets. Now … stated title?!?!?!? #53104234f3f3fParticipantThe finger pointers don’t exactly have a clean slate. When I approached BofA about a loan, they approved it misstating my declared income by 30%, making the loan offer a joke. I turned it down on the grounds of incompetence.
34f3f3fParticipant[quote=ucodegen]
I guess that people forgot what happened when mandatory auto insurance was legislated in California. It was supposed to reduce costs, but had the opposite effect. The insurance companies had forced customers. They would assign higher risk profiles to people than they really were.. driving up the fees. It got to the point that the people in California had to create yet another bureaucracy to control auto insurance prices.
[/quote]I believe there will be measures to ensure premiums are not allowed to sky-rocket. Afterall, that was the thrust of the bill.
I was pleased with the result, and is provides an incentive to return to the US. All we need now is for home prices to correct to where they should be, and my wife and will be packing our bags.
34f3f3fParticipant[quote=ucodegen]
I guess that people forgot what happened when mandatory auto insurance was legislated in California. It was supposed to reduce costs, but had the opposite effect. The insurance companies had forced customers. They would assign higher risk profiles to people than they really were.. driving up the fees. It got to the point that the people in California had to create yet another bureaucracy to control auto insurance prices.
[/quote]I believe there will be measures to ensure premiums are not allowed to sky-rocket. Afterall, that was the thrust of the bill.
I was pleased with the result, and is provides an incentive to return to the US. All we need now is for home prices to correct to where they should be, and my wife and will be packing our bags.
34f3f3fParticipant[quote=ucodegen]
I guess that people forgot what happened when mandatory auto insurance was legislated in California. It was supposed to reduce costs, but had the opposite effect. The insurance companies had forced customers. They would assign higher risk profiles to people than they really were.. driving up the fees. It got to the point that the people in California had to create yet another bureaucracy to control auto insurance prices.
[/quote]I believe there will be measures to ensure premiums are not allowed to sky-rocket. Afterall, that was the thrust of the bill.
I was pleased with the result, and is provides an incentive to return to the US. All we need now is for home prices to correct to where they should be, and my wife and will be packing our bags.
34f3f3fParticipant[quote=ucodegen]
I guess that people forgot what happened when mandatory auto insurance was legislated in California. It was supposed to reduce costs, but had the opposite effect. The insurance companies had forced customers. They would assign higher risk profiles to people than they really were.. driving up the fees. It got to the point that the people in California had to create yet another bureaucracy to control auto insurance prices.
[/quote]I believe there will be measures to ensure premiums are not allowed to sky-rocket. Afterall, that was the thrust of the bill.
I was pleased with the result, and is provides an incentive to return to the US. All we need now is for home prices to correct to where they should be, and my wife and will be packing our bags.
34f3f3fParticipant[quote=ucodegen]
I guess that people forgot what happened when mandatory auto insurance was legislated in California. It was supposed to reduce costs, but had the opposite effect. The insurance companies had forced customers. They would assign higher risk profiles to people than they really were.. driving up the fees. It got to the point that the people in California had to create yet another bureaucracy to control auto insurance prices.
[/quote]I believe there will be measures to ensure premiums are not allowed to sky-rocket. Afterall, that was the thrust of the bill.
I was pleased with the result, and is provides an incentive to return to the US. All we need now is for home prices to correct to where they should be, and my wife and will be packing our bags.
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