Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: ild who wrote (237164)	4/23/2003 1:16:53 PM
From: Perspective	Read Replies (2) of 436258

Refis outnumbered purchases 27:1 at the recent peak! Holy finance bubble! That entire industry is now doing 90-95% of their transactions for entirely non-productive purposes! Take away that refi business, and anyone that's been benefiting from it is going to lose 90% of their business. Jesus, shorting mortgage finance companies with PEs of 6 or 8 doesn't seem so ludicrous now - take away refis and their revenues could decline 90%! Was it GM that just said half their profits came from home mortgages? That's going to just disappear someday soon. BC

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