Forum Replies Created
-
AuthorPosts
-
blahblahblah
ParticipantMy wife and I are addicted to “Real Estate Intervention”. They should retitle it “Watch people lose money on their house.” And what is up with that guy’s moustache, anyway?
Another show we love is “Flipping Out”. That guy is extremely talented as well as very crazy. Makes for fun viewing.
ParticipantWhat has changed other than foolishness and govt manipulation ??
One — interest rates. The prime rate in 1981 was over 20%! Higher rates, lower prices.
Two — the widespread growth of mortgage backed securities, allowing financial institutions to play hot-potato with mortgages.
Three — the repeal of Glass-Steagall, allowing unimaginable levels of chicanery by financial institutions.
That’s the trifecta. And FNMA and FMAC are part of #2 since they offered the first MBS investment products.
The real question is what happens next? Are we headed back to the good old days of local banks writing mortgages for their neighbors and carrying them for the full 30 years? Or are we in for even more market manipulation, government intervation, and financial hooliganism?
I know where I’d put my betting money (if I had any left).
ParticipantWhat has changed other than foolishness and govt manipulation ??
One — interest rates. The prime rate in 1981 was over 20%! Higher rates, lower prices.
Two — the widespread growth of mortgage backed securities, allowing financial institutions to play hot-potato with mortgages.
Three — the repeal of Glass-Steagall, allowing unimaginable levels of chicanery by financial institutions.
That’s the trifecta. And FNMA and FMAC are part of #2 since they offered the first MBS investment products.
The real question is what happens next? Are we headed back to the good old days of local banks writing mortgages for their neighbors and carrying them for the full 30 years? Or are we in for even more market manipulation, government intervation, and financial hooliganism?
I know where I’d put my betting money (if I had any left).
ParticipantWhat has changed other than foolishness and govt manipulation ??
One — interest rates. The prime rate in 1981 was over 20%! Higher rates, lower prices.
Two — the widespread growth of mortgage backed securities, allowing financial institutions to play hot-potato with mortgages.
Three — the repeal of Glass-Steagall, allowing unimaginable levels of chicanery by financial institutions.
That’s the trifecta. And FNMA and FMAC are part of #2 since they offered the first MBS investment products.
The real question is what happens next? Are we headed back to the good old days of local banks writing mortgages for their neighbors and carrying them for the full 30 years? Or are we in for even more market manipulation, government intervation, and financial hooliganism?
I know where I’d put my betting money (if I had any left).
ParticipantWhat has changed other than foolishness and govt manipulation ??
One — interest rates. The prime rate in 1981 was over 20%! Higher rates, lower prices.
Two — the widespread growth of mortgage backed securities, allowing financial institutions to play hot-potato with mortgages.
Three — the repeal of Glass-Steagall, allowing unimaginable levels of chicanery by financial institutions.
That’s the trifecta. And FNMA and FMAC are part of #2 since they offered the first MBS investment products.
The real question is what happens next? Are we headed back to the good old days of local banks writing mortgages for their neighbors and carrying them for the full 30 years? Or are we in for even more market manipulation, government intervation, and financial hooliganism?
I know where I’d put my betting money (if I had any left).
ParticipantWhat has changed other than foolishness and govt manipulation ??
One — interest rates. The prime rate in 1981 was over 20%! Higher rates, lower prices.
Two — the widespread growth of mortgage backed securities, allowing financial institutions to play hot-potato with mortgages.
Three — the repeal of Glass-Steagall, allowing unimaginable levels of chicanery by financial institutions.
That’s the trifecta. And FNMA and FMAC are part of #2 since they offered the first MBS investment products.
The real question is what happens next? Are we headed back to the good old days of local banks writing mortgages for their neighbors and carrying them for the full 30 years? Or are we in for even more market manipulation, government intervation, and financial hooliganism?
I know where I’d put my betting money (if I had any left).
ParticipantI think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.I would agree if I believed that we were going back to the days before massive government intervention in the housing and MBS markets and the packaging/selling of mortgages as securities in the MBS market. Those two factors alone are responsible for the housing bubble more than anything else. If banks actually had to carry mortgages again, 20% down would be de rigeur. Is that going to happen? Your guess is as good as mine.
ParticipantI think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.I would agree if I believed that we were going back to the days before massive government intervention in the housing and MBS markets and the packaging/selling of mortgages as securities in the MBS market. Those two factors alone are responsible for the housing bubble more than anything else. If banks actually had to carry mortgages again, 20% down would be de rigeur. Is that going to happen? Your guess is as good as mine.
ParticipantI think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.I would agree if I believed that we were going back to the days before massive government intervention in the housing and MBS markets and the packaging/selling of mortgages as securities in the MBS market. Those two factors alone are responsible for the housing bubble more than anything else. If banks actually had to carry mortgages again, 20% down would be de rigeur. Is that going to happen? Your guess is as good as mine.
ParticipantI think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.I would agree if I believed that we were going back to the days before massive government intervention in the housing and MBS markets and the packaging/selling of mortgages as securities in the MBS market. Those two factors alone are responsible for the housing bubble more than anything else. If banks actually had to carry mortgages again, 20% down would be de rigeur. Is that going to happen? Your guess is as good as mine.
ParticipantI think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.I would agree if I believed that we were going back to the days before massive government intervention in the housing and MBS markets and the packaging/selling of mortgages as securities in the MBS market. Those two factors alone are responsible for the housing bubble more than anything else. If banks actually had to carry mortgages again, 20% down would be de rigeur. Is that going to happen? Your guess is as good as mine.
ParticipantThis is a very nice 60K-80K house in many parts of the country, that would rent for $500-$600 a month.
I think the rent here for that place would be more than $1000/mo. They still overpaid in this case, people probably always will in certain neighborhoods.
ParticipantThis is a very nice 60K-80K house in many parts of the country, that would rent for $500-$600 a month.
I think the rent here for that place would be more than $1000/mo. They still overpaid in this case, people probably always will in certain neighborhoods.
ParticipantThis is a very nice 60K-80K house in many parts of the country, that would rent for $500-$600 a month.
I think the rent here for that place would be more than $1000/mo. They still overpaid in this case, people probably always will in certain neighborhoods.
-
AuthorPosts
