The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Tradelite who wrote (2770)	6/19/2002 9:12:48 AM
From: SBerglowe	Read Replies (1) of 306849

One other thought about real estate that concerns me is that the guidelines for lending have gotten so loose that if we wind up in a prolonged recession where people continue to be laid off, I have to believe that FNM could wind up in trouble. People now do 95% financing and even 100% financing on homes that have soared in price over the last five years. Appraisers will "fudge" their numbers to 'do the deal' because everyone is so comfortable with the concept that home ownership is an entitlement and a safe investment. I had a banker call me yesterday for an opinion about a 3.5 million foreclosure in a posh gated community of 15 estate homes. After looking at the MLS and noting that 7 other homes were on the market in this community I offered the banker condolences.

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