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May 19, 2008 at 3:26 PM in reply to: The Giant Pool of Money (short history of mortgage crisis) #207638May 19, 2008 at 3:26 PM in reply to: The Giant Pool of Money (short history of mortgage crisis) #207697
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ParticipantI was looking for the original post after finally listening to this. I thought it was fascinating, helpful to hear how this got so out of control, and how bad it really was.
The fact that from 2000-2006 the Global Pool of Money doubled is telling IMO of how much further housing and the finance world in general have to fall as things deleverage.
The Government/Fed have thrown just about everything they can at this and seem to have eased the blows.
For now.
That pool has a lot more pain coming and now Ben and Barney have little if nothing left to ease it.
May 19, 2008 at 3:26 PM in reply to: The Giant Pool of Money (short history of mortgage crisis) #207726ParticipantI was looking for the original post after finally listening to this. I thought it was fascinating, helpful to hear how this got so out of control, and how bad it really was.
The fact that from 2000-2006 the Global Pool of Money doubled is telling IMO of how much further housing and the finance world in general have to fall as things deleverage.
The Government/Fed have thrown just about everything they can at this and seem to have eased the blows.
For now.
That pool has a lot more pain coming and now Ben and Barney have little if nothing left to ease it.
May 19, 2008 at 3:26 PM in reply to: The Giant Pool of Money (short history of mortgage crisis) #207752ParticipantI was looking for the original post after finally listening to this. I thought it was fascinating, helpful to hear how this got so out of control, and how bad it really was.
The fact that from 2000-2006 the Global Pool of Money doubled is telling IMO of how much further housing and the finance world in general have to fall as things deleverage.
The Government/Fed have thrown just about everything they can at this and seem to have eased the blows.
For now.
That pool has a lot more pain coming and now Ben and Barney have little if nothing left to ease it.
May 19, 2008 at 3:26 PM in reply to: The Giant Pool of Money (short history of mortgage crisis) #207781ParticipantI was looking for the original post after finally listening to this. I thought it was fascinating, helpful to hear how this got so out of control, and how bad it really was.
The fact that from 2000-2006 the Global Pool of Money doubled is telling IMO of how much further housing and the finance world in general have to fall as things deleverage.
The Government/Fed have thrown just about everything they can at this and seem to have eased the blows.
For now.
That pool has a lot more pain coming and now Ben and Barney have little if nothing left to ease it.
ParticipantAs someone already said, it’s month to month, and look at the numbers from a year ago.
The other thing the article isn’t as boastful about is how much cheaper prices are from a year ago.
To me though this is a small sign of relief before the next shoe to drop, aftershock, or (insert your favorite “doomsday” metaphor here). Housing has only been on the downturn for 18 months. After 10 years of rising, the last 3-5 of it entirely speculative, I just don’t see any way that this could be a sign of the bottom.
When MSM, your doctor, baby sitter, the checker at the grocery store, and your Realtor tell you to wait to buy because prices are still falling, then we’ll be closer to the bottom.
All this talk about a 2008-2009 turn around are premature. We still have enough ARMs resetting through 2011 to do as much damage as we’ve already seen, and we know people will be calling the bottom all the way down. Once they stop calling the bottom, we’re probably there.
ParticipantAs someone already said, it’s month to month, and look at the numbers from a year ago.
The other thing the article isn’t as boastful about is how much cheaper prices are from a year ago.
To me though this is a small sign of relief before the next shoe to drop, aftershock, or (insert your favorite “doomsday” metaphor here). Housing has only been on the downturn for 18 months. After 10 years of rising, the last 3-5 of it entirely speculative, I just don’t see any way that this could be a sign of the bottom.
When MSM, your doctor, baby sitter, the checker at the grocery store, and your Realtor tell you to wait to buy because prices are still falling, then we’ll be closer to the bottom.
All this talk about a 2008-2009 turn around are premature. We still have enough ARMs resetting through 2011 to do as much damage as we’ve already seen, and we know people will be calling the bottom all the way down. Once they stop calling the bottom, we’re probably there.
ParticipantAs someone already said, it’s month to month, and look at the numbers from a year ago.
The other thing the article isn’t as boastful about is how much cheaper prices are from a year ago.
To me though this is a small sign of relief before the next shoe to drop, aftershock, or (insert your favorite “doomsday” metaphor here). Housing has only been on the downturn for 18 months. After 10 years of rising, the last 3-5 of it entirely speculative, I just don’t see any way that this could be a sign of the bottom.
When MSM, your doctor, baby sitter, the checker at the grocery store, and your Realtor tell you to wait to buy because prices are still falling, then we’ll be closer to the bottom.
All this talk about a 2008-2009 turn around are premature. We still have enough ARMs resetting through 2011 to do as much damage as we’ve already seen, and we know people will be calling the bottom all the way down. Once they stop calling the bottom, we’re probably there.
ParticipantAs someone already said, it’s month to month, and look at the numbers from a year ago.
The other thing the article isn’t as boastful about is how much cheaper prices are from a year ago.
To me though this is a small sign of relief before the next shoe to drop, aftershock, or (insert your favorite “doomsday” metaphor here). Housing has only been on the downturn for 18 months. After 10 years of rising, the last 3-5 of it entirely speculative, I just don’t see any way that this could be a sign of the bottom.
When MSM, your doctor, baby sitter, the checker at the grocery store, and your Realtor tell you to wait to buy because prices are still falling, then we’ll be closer to the bottom.
All this talk about a 2008-2009 turn around are premature. We still have enough ARMs resetting through 2011 to do as much damage as we’ve already seen, and we know people will be calling the bottom all the way down. Once they stop calling the bottom, we’re probably there.
ParticipantAs someone already said, it’s month to month, and look at the numbers from a year ago.
The other thing the article isn’t as boastful about is how much cheaper prices are from a year ago.
To me though this is a small sign of relief before the next shoe to drop, aftershock, or (insert your favorite “doomsday” metaphor here). Housing has only been on the downturn for 18 months. After 10 years of rising, the last 3-5 of it entirely speculative, I just don’t see any way that this could be a sign of the bottom.
When MSM, your doctor, baby sitter, the checker at the grocery store, and your Realtor tell you to wait to buy because prices are still falling, then we’ll be closer to the bottom.
All this talk about a 2008-2009 turn around are premature. We still have enough ARMs resetting through 2011 to do as much damage as we’ve already seen, and we know people will be calling the bottom all the way down. Once they stop calling the bottom, we’re probably there.
May 10, 2008 at 9:51 PM in reply to: In mortgage market, ‘walkaway’ homeowners may be urban myth #202248ParticipantI just don’t see banks wanting to disclose this information. Think about the implications.
Right now banks are doing little to nothing about people missing payments. If banks start announcing how many people are walking away, the next logical question is what are they doing about it?
When the answer is nothing it will invite an onslaught of upside down “homeowners” who once dreamed of selling for a massive profit to walk too.
May 10, 2008 at 9:51 PM in reply to: In mortgage market, ‘walkaway’ homeowners may be urban myth #202294ParticipantI just don’t see banks wanting to disclose this information. Think about the implications.
Right now banks are doing little to nothing about people missing payments. If banks start announcing how many people are walking away, the next logical question is what are they doing about it?
When the answer is nothing it will invite an onslaught of upside down “homeowners” who once dreamed of selling for a massive profit to walk too.
May 10, 2008 at 9:51 PM in reply to: In mortgage market, ‘walkaway’ homeowners may be urban myth #202319ParticipantI just don’t see banks wanting to disclose this information. Think about the implications.
Right now banks are doing little to nothing about people missing payments. If banks start announcing how many people are walking away, the next logical question is what are they doing about it?
When the answer is nothing it will invite an onslaught of upside down “homeowners” who once dreamed of selling for a massive profit to walk too.
May 10, 2008 at 9:51 PM in reply to: In mortgage market, ‘walkaway’ homeowners may be urban myth #202346ParticipantI just don’t see banks wanting to disclose this information. Think about the implications.
Right now banks are doing little to nothing about people missing payments. If banks start announcing how many people are walking away, the next logical question is what are they doing about it?
When the answer is nothing it will invite an onslaught of upside down “homeowners” who once dreamed of selling for a massive profit to walk too.
May 10, 2008 at 9:51 PM in reply to: In mortgage market, ‘walkaway’ homeowners may be urban myth #202382ParticipantI just don’t see banks wanting to disclose this information. Think about the implications.
Right now banks are doing little to nothing about people missing payments. If banks start announcing how many people are walking away, the next logical question is what are they doing about it?
When the answer is nothing it will invite an onslaught of upside down “homeowners” who once dreamed of selling for a massive profit to walk too.
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