The Epic American Credit and Bond Bubble Laboratory Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Jim Willie CB who wrote (29310)	3/25/2005 9:46:05 AM
From: stockman_scott	Read Replies (1) of 110194

Some interesting comments on 'The Real Estate Bubble'... maxfunds.com <<...I've owned a mortgage company for the last 12 years. Its been a good run. Whats changed...and what gets mostly glossed over is the steady decline of underwriting standards. 10 Years ago....you had to actually qualify for a loan...put some money down....and have decent credit. IN the last 2-3 years.....ANYONE can get a loan...with NO money down....crappy credit....and NO employment verification. ANYTHING goes. On top of that....Realtors are putting 2-4 thousand dollars into contracts (into the sales price of the home) to pay for closing costs. Appraisers are able to keep substantiating higher prices because people are willing to pay the higher prices because they do not have to take any (or very little) of their own money out of their pockets. Very little of the increase of home prices has to do with REAL value. Its value thats being created by lax underwriting and low rates. IS there a bubble? There is no doubt about it....and its been created by lenders, FNMA, GNMA, and the agencies that oversee them. The end is near...and when it blows.....the financial devastation will be unlike anything ever seen before...>> Posted by: BK at March 24, 2005 09:29 AM

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next