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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: CalculatedRisk who wrote (35857)7/20/2005 12:52:25 PM
From: John VosillaRead Replies (1) of 306849
 
"The apparent froth in housing markets appears to have interacted with evolving practices in mortgage markets. The increase in the prevalence of interest-only loans and the introduction of more-exotic forms of adjustable-rate mortgages are developments of particular concern. "

I sure hope he is not targeting monetary policy based on just cooling the coastal housing bubble. He will destroy the rest of the economy first. Better to push for the elimination of negative amortization and interest only loans which are a further evolution of the early 1980's era when rates were very high, valuations low and creativity was needed. CR, what do you think he wants to do?
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