[kev374]

Besides inflation there is also the devaluation of the dollar. Why save when those savings will be worth nothing in 3 years?

[kev374]

Besides inflation there is also the devaluation of the dollar. Why save when those savings will be worth nothing in 3 years?

[kev374]

The government serves the people and the majority of people in this country own homes or want to buy homes. They do not want to see a housing meltdown. Right or wrong the government will intervene. Anyone who didnt see this coming is a bit naive.

How is rewarding risky irresponsible behavior serving the people? You say the government wants to act in the interest of people who wants to buy homes, how is intervening and not letting markets correct themselves serving those who cannot afford to buy without stretching themselves and getting into risky propositions?

[kev374]

The government serves the people and the majority of people in this country own homes or want to buy homes. They do not want to see a housing meltdown. Right or wrong the government will intervene. Anyone who didnt see this coming is a bit naive.

How is rewarding risky irresponsible behavior serving the people? You say the government wants to act in the interest of people who wants to buy homes, how is intervening and not letting markets correct themselves serving those who cannot afford to buy without stretching themselves and getting into risky propositions?

[kev374]

The government serves the people and the majority of people in this country own homes or want to buy homes. They do not want to see a housing meltdown. Right or wrong the government will intervene. Anyone who didnt see this coming is a bit naive.

How is rewarding risky irresponsible behavior serving the people? You say the government wants to act in the interest of people who wants to buy homes, how is intervening and not letting markets correct themselves serving those who cannot afford to buy without stretching themselves and getting into risky propositions?

[kev374]

The government serves the people and the majority of people in this country own homes or want to buy homes. They do not want to see a housing meltdown. Right or wrong the government will intervene. Anyone who didnt see this coming is a bit naive.

How is rewarding risky irresponsible behavior serving the people? You say the government wants to act in the interest of people who wants to buy homes, how is intervening and not letting markets correct themselves serving those who cannot afford to buy without stretching themselves and getting into risky propositions?

[kev374]

The government serves the people and the majority of people in this country own homes or want to buy homes. They do not want to see a housing meltdown. Right or wrong the government will intervene. Anyone who didnt see this coming is a bit naive.

How is rewarding risky irresponsible behavior serving the people? You say the government wants to act in the interest of people who wants to buy homes, how is intervening and not letting markets correct themselves serving those who cannot afford to buy without stretching themselves and getting into risky propositions?

[kev374]

the more number of rate freezes that occur it will have a proportional effect of lenders shying away from extending more credit to new buyers, tightening their standards, and investors running miles away from any real esate related investments. Well, and if getting a loan is impossible for most new buyers it will have a devastating effect on home prices as is starting to happen right now.

This is to counter the silly argument that many make that goes since lenders are locking rates the market will not collapse. It is far too late for that type of thinking.

[kev374]

the more number of rate freezes that occur it will have a proportional effect of lenders shying away from extending more credit to new buyers, tightening their standards, and investors running miles away from any real esate related investments. Well, and if getting a loan is impossible for most new buyers it will have a devastating effect on home prices as is starting to happen right now.

This is to counter the silly argument that many make that goes since lenders are locking rates the market will not collapse. It is far too late for that type of thinking.

[kev374]

the more number of rate freezes that occur it will have a proportional effect of lenders shying away from extending more credit to new buyers, tightening their standards, and investors running miles away from any real esate related investments. Well, and if getting a loan is impossible for most new buyers it will have a devastating effect on home prices as is starting to happen right now.

This is to counter the silly argument that many make that goes since lenders are locking rates the market will not collapse. It is far too late for that type of thinking.

[kev374]

the more number of rate freezes that occur it will have a proportional effect of lenders shying away from extending more credit to new buyers, tightening their standards, and investors running miles away from any real esate related investments. Well, and if getting a loan is impossible for most new buyers it will have a devastating effect on home prices as is starting to happen right now.

This is to counter the silly argument that many make that goes since lenders are locking rates the market will not collapse. It is far too late for that type of thinking.

[kev374]

the more number of rate freezes that occur it will have a proportional effect of lenders shying away from extending more credit to new buyers, tightening their standards, and investors running miles away from any real esate related investments. Well, and if getting a loan is impossible for most new buyers it will have a devastating effect on home prices as is starting to happen right now.

This is to counter the silly argument that many make that goes since lenders are locking rates the market will not collapse. It is far too late for that type of thinking.

[kev374]

The key is downpayment. The lack of a downpayment and stated income loans is what drove prices up. This enabled unemployed delinquents and speculators to just make bids and purchase property with reckless abandon. Now that downpayments and documentation of income are required, demand has of course gone to zero and prices will reset to 2001 levels (i.e. correction of the 2003 Real estate peak cycle). The appreciation from 2003-2005 is pure vapor and shouldn’t even exist absent loose lending.

[kev374]

The key is downpayment. The lack of a downpayment and stated income loans is what drove prices up. This enabled unemployed delinquents and speculators to just make bids and purchase property with reckless abandon. Now that downpayments and documentation of income are required, demand has of course gone to zero and prices will reset to 2001 levels (i.e. correction of the 2003 Real estate peak cycle). The appreciation from 2003-2005 is pure vapor and shouldn’t even exist absent loose lending.

[kev374]

The key is downpayment. The lack of a downpayment and stated income loans is what drove prices up. This enabled unemployed delinquents and speculators to just make bids and purchase property with reckless abandon. Now that downpayments and documentation of income are required, demand has of course gone to zero and prices will reset to 2001 levels (i.e. correction of the 2003 Real estate peak cycle). The appreciation from 2003-2005 is pure vapor and shouldn’t even exist absent loose lending.

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