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ParticipantIt means a lot.
“That marks the first time homeowners’ debt on their houses exceeds their equity since the Fed started tracking the data in 1945.”
Basically, people are screwed.
It seems to indicates that there were a huge number of refi’s, however as long as they can afford thier loans they’ll be fine.
It also means a house doesn’t make you rich, Real Estate does go down, and not everyone should own a home.
Downward spiral.
ParticipantIt means a lot.
“That marks the first time homeowners’ debt on their houses exceeds their equity since the Fed started tracking the data in 1945.”
Basically, people are screwed.
It seems to indicates that there were a huge number of refi’s, however as long as they can afford thier loans they’ll be fine.
It also means a house doesn’t make you rich, Real Estate does go down, and not everyone should own a home.
Downward spiral.
ParticipantIt means a lot.
“That marks the first time homeowners’ debt on their houses exceeds their equity since the Fed started tracking the data in 1945.”
Basically, people are screwed.
It seems to indicates that there were a huge number of refi’s, however as long as they can afford thier loans they’ll be fine.
It also means a house doesn’t make you rich, Real Estate does go down, and not everyone should own a home.
Downward spiral.
ParticipantIt means a lot.
“That marks the first time homeowners’ debt on their houses exceeds their equity since the Fed started tracking the data in 1945.”
Basically, people are screwed.
It seems to indicates that there were a huge number of refi’s, however as long as they can afford thier loans they’ll be fine.
It also means a house doesn’t make you rich, Real Estate does go down, and not everyone should own a home.
Downward spiral.
ParticipantThe irony is some people will refuse to drop their prices by 20% today, but in 3 months will drop it by 5%, then 10% a month later, then another 10% the month after that.
Had they cut it 20% today it’d likely sell for more than 6 months from now.
Then again, I have no problem with them holding out for something they likely won’t get.
ParticipantThe irony is some people will refuse to drop their prices by 20% today, but in 3 months will drop it by 5%, then 10% a month later, then another 10% the month after that.
Had they cut it 20% today it’d likely sell for more than 6 months from now.
Then again, I have no problem with them holding out for something they likely won’t get.
ParticipantThe irony is some people will refuse to drop their prices by 20% today, but in 3 months will drop it by 5%, then 10% a month later, then another 10% the month after that.
Had they cut it 20% today it’d likely sell for more than 6 months from now.
Then again, I have no problem with them holding out for something they likely won’t get.
ParticipantThe irony is some people will refuse to drop their prices by 20% today, but in 3 months will drop it by 5%, then 10% a month later, then another 10% the month after that.
Had they cut it 20% today it’d likely sell for more than 6 months from now.
Then again, I have no problem with them holding out for something they likely won’t get.
ParticipantThe irony is some people will refuse to drop their prices by 20% today, but in 3 months will drop it by 5%, then 10% a month later, then another 10% the month after that.
Had they cut it 20% today it’d likely sell for more than 6 months from now.
Then again, I have no problem with them holding out for something they likely won’t get.
ParticipantRe: #1 – By taking them off their books the government would have to pay book value for them or the banks would probably be better off selling them. Of course the answer to that is print more money, but then what? The government will sell them all at a loss? Through who, FMAE, FMAC, OFHEO, FHA? That will only increase inflation and force more downward pressure on prices.
Maybe they will hoard them until the next bubble.
ParticipantRe: #1 – By taking them off their books the government would have to pay book value for them or the banks would probably be better off selling them. Of course the answer to that is print more money, but then what? The government will sell them all at a loss? Through who, FMAE, FMAC, OFHEO, FHA? That will only increase inflation and force more downward pressure on prices.
Maybe they will hoard them until the next bubble.
ParticipantRe: #1 – By taking them off their books the government would have to pay book value for them or the banks would probably be better off selling them. Of course the answer to that is print more money, but then what? The government will sell them all at a loss? Through who, FMAE, FMAC, OFHEO, FHA? That will only increase inflation and force more downward pressure on prices.
Maybe they will hoard them until the next bubble.
ParticipantRe: #1 – By taking them off their books the government would have to pay book value for them or the banks would probably be better off selling them. Of course the answer to that is print more money, but then what? The government will sell them all at a loss? Through who, FMAE, FMAC, OFHEO, FHA? That will only increase inflation and force more downward pressure on prices.
Maybe they will hoard them until the next bubble.
ParticipantRe: #1 – By taking them off their books the government would have to pay book value for them or the banks would probably be better off selling them. Of course the answer to that is print more money, but then what? The government will sell them all at a loss? Through who, FMAE, FMAC, OFHEO, FHA? That will only increase inflation and force more downward pressure on prices.
Maybe they will hoard them until the next bubble.
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