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Strategies & Market Trends : Strictly: Drilling II
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To: TheBusDriver who wrote (26712)1/27/2003 7:06:08 AM
From: loantech  Read Replies (1) of 36161
 
Wayne,
It got pretty bad in Texas and Denver our oil patch towns back then. It can happen again. But not Lajolla. Silicon valley though and here in the Portland area Silicon Forest and many other places. Since the 80's debt to income ratios that are acceptable have gone from 40% to 50% and even a tad bit higher. Acceptable credit standards have been lowered and a person back then could expect a 75-80% loan to value or cash out position where as 95 and 100% are now common place. As there are many cases of little or no equity many will walk away when they are upside down, IE owe more than the value. It is already happening but at a slowly increasing pace.
Tom
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