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July 5, 2009 at 4:34 PM in reply to: OT: “Bank of America sets cutoff for redeeming California IOUs” #425830July 5, 2009 at 4:34 PM in reply to: OT: “Bank of America sets cutoff for redeeming California IOUs” #426118
patientrenter
ParticipantHow much money under management do you think would make it worthwhile, Allan? Half-serious too…..
July 5, 2009 at 4:34 PM in reply to: OT: “Bank of America sets cutoff for redeeming California IOUs” #426185ParticipantHow much money under management do you think would make it worthwhile, Allan? Half-serious too…..
July 5, 2009 at 4:34 PM in reply to: OT: “Bank of America sets cutoff for redeeming California IOUs” #426350ParticipantHow much money under management do you think would make it worthwhile, Allan? Half-serious too…..
July 5, 2009 at 4:05 PM in reply to: OT: “Bank of America sets cutoff for redeeming California IOUs” #425586ParticipantAllan, Davelj might be happy to manage more money, but can we trust someone who thinks it’s OK to take full advantage of any loopholes in a legal contract, regardless of the ethics? 🙂 / Retract claws
July 5, 2009 at 4:05 PM in reply to: OT: “Bank of America sets cutoff for redeeming California IOUs” #425815ParticipantAllan, Davelj might be happy to manage more money, but can we trust someone who thinks it’s OK to take full advantage of any loopholes in a legal contract, regardless of the ethics? 🙂 / Retract claws
July 5, 2009 at 4:05 PM in reply to: OT: “Bank of America sets cutoff for redeeming California IOUs” #426103ParticipantAllan, Davelj might be happy to manage more money, but can we trust someone who thinks it’s OK to take full advantage of any loopholes in a legal contract, regardless of the ethics? 🙂 / Retract claws
July 5, 2009 at 4:05 PM in reply to: OT: “Bank of America sets cutoff for redeeming California IOUs” #426170ParticipantAllan, Davelj might be happy to manage more money, but can we trust someone who thinks it’s OK to take full advantage of any loopholes in a legal contract, regardless of the ethics? 🙂 / Retract claws
July 5, 2009 at 4:05 PM in reply to: OT: “Bank of America sets cutoff for redeeming California IOUs” #426335ParticipantAllan, Davelj might be happy to manage more money, but can we trust someone who thinks it’s OK to take full advantage of any loopholes in a legal contract, regardless of the ethics? 🙂 / Retract claws
July 5, 2009 at 3:58 PM in reply to: Feng Shui, is it important for you when buying a house? #425577ParticipantCA Renter, I think you are right about that large (e.g. minimum 20%) downpayment requirement being the single best thing we can do to avoid a repeat of what we’re experiencing now. The article in the WSj recently by Stan Liebowitz outlines the evidence to support this, but it was in my gut years ago.
In fact, I pulled someone aside in my last company’s investment area about 2 years ago to say that they should prepare for much higher mortgage defaults. They responded that the investment folks were making sure that the MBSs they bought were super-senior AAA, with lots of collateral, and they did lots of analysis of the credit of the buyers etc. I recall saying that was fine, but make sure that the CLTV is less than 80%, and avoid over-exposure to CA, FL, AZ, and NV. I just felt that downpayments were the KISS thing to watch.
Until we squeeze out anything with less than 20% down for owner-occupiers, and 30% for others (at least anything from FDIC-insured banks, or FNMA or FHA or other govt support) then we are extremely exposed to a repeat of what we’re now experiencing.
July 5, 2009 at 3:58 PM in reply to: Feng Shui, is it important for you when buying a house? #425805ParticipantCA Renter, I think you are right about that large (e.g. minimum 20%) downpayment requirement being the single best thing we can do to avoid a repeat of what we’re experiencing now. The article in the WSj recently by Stan Liebowitz outlines the evidence to support this, but it was in my gut years ago.
In fact, I pulled someone aside in my last company’s investment area about 2 years ago to say that they should prepare for much higher mortgage defaults. They responded that the investment folks were making sure that the MBSs they bought were super-senior AAA, with lots of collateral, and they did lots of analysis of the credit of the buyers etc. I recall saying that was fine, but make sure that the CLTV is less than 80%, and avoid over-exposure to CA, FL, AZ, and NV. I just felt that downpayments were the KISS thing to watch.
Until we squeeze out anything with less than 20% down for owner-occupiers, and 30% for others (at least anything from FDIC-insured banks, or FNMA or FHA or other govt support) then we are extremely exposed to a repeat of what we’re now experiencing.
July 5, 2009 at 3:58 PM in reply to: Feng Shui, is it important for you when buying a house? #426093ParticipantCA Renter, I think you are right about that large (e.g. minimum 20%) downpayment requirement being the single best thing we can do to avoid a repeat of what we’re experiencing now. The article in the WSj recently by Stan Liebowitz outlines the evidence to support this, but it was in my gut years ago.
In fact, I pulled someone aside in my last company’s investment area about 2 years ago to say that they should prepare for much higher mortgage defaults. They responded that the investment folks were making sure that the MBSs they bought were super-senior AAA, with lots of collateral, and they did lots of analysis of the credit of the buyers etc. I recall saying that was fine, but make sure that the CLTV is less than 80%, and avoid over-exposure to CA, FL, AZ, and NV. I just felt that downpayments were the KISS thing to watch.
Until we squeeze out anything with less than 20% down for owner-occupiers, and 30% for others (at least anything from FDIC-insured banks, or FNMA or FHA or other govt support) then we are extremely exposed to a repeat of what we’re now experiencing.
July 5, 2009 at 3:58 PM in reply to: Feng Shui, is it important for you when buying a house? #426160ParticipantCA Renter, I think you are right about that large (e.g. minimum 20%) downpayment requirement being the single best thing we can do to avoid a repeat of what we’re experiencing now. The article in the WSj recently by Stan Liebowitz outlines the evidence to support this, but it was in my gut years ago.
In fact, I pulled someone aside in my last company’s investment area about 2 years ago to say that they should prepare for much higher mortgage defaults. They responded that the investment folks were making sure that the MBSs they bought were super-senior AAA, with lots of collateral, and they did lots of analysis of the credit of the buyers etc. I recall saying that was fine, but make sure that the CLTV is less than 80%, and avoid over-exposure to CA, FL, AZ, and NV. I just felt that downpayments were the KISS thing to watch.
Until we squeeze out anything with less than 20% down for owner-occupiers, and 30% for others (at least anything from FDIC-insured banks, or FNMA or FHA or other govt support) then we are extremely exposed to a repeat of what we’re now experiencing.
July 5, 2009 at 3:58 PM in reply to: Feng Shui, is it important for you when buying a house? #426325ParticipantCA Renter, I think you are right about that large (e.g. minimum 20%) downpayment requirement being the single best thing we can do to avoid a repeat of what we’re experiencing now. The article in the WSj recently by Stan Liebowitz outlines the evidence to support this, but it was in my gut years ago.
In fact, I pulled someone aside in my last company’s investment area about 2 years ago to say that they should prepare for much higher mortgage defaults. They responded that the investment folks were making sure that the MBSs they bought were super-senior AAA, with lots of collateral, and they did lots of analysis of the credit of the buyers etc. I recall saying that was fine, but make sure that the CLTV is less than 80%, and avoid over-exposure to CA, FL, AZ, and NV. I just felt that downpayments were the KISS thing to watch.
Until we squeeze out anything with less than 20% down for owner-occupiers, and 30% for others (at least anything from FDIC-insured banks, or FNMA or FHA or other govt support) then we are extremely exposed to a repeat of what we’re now experiencing.
ParticipantArraya and XBoxBoy make good points.
Look at what China and other CBs do, not what they say. They clearly need to move to fewer dollars, and that will happen.
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