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: Beachside Bill who wrote (59572)	8/10/2006 9:04:16 AM
From: Think4Yourself	Read Replies (1) of 306849

"Well, mortgage activity back up" Spoken like a true sheep. Sheep don't look past the headlines. Do some research and you will discover that they are all REFI's! People are either panicking or they want to take out mortgages at higher interest rates. "Don't worry, this time it is different." More like "Worry, this time it is different!" There are a ton of ARM's out there in the process of adjusting. We just had the biggest housing buildout in history. We just had a protracted period of free money. The mortgage companies have been lending to anyone who can breathe (and maybe some who can't). People have been using HELOCs to pull out and spend their home equity. It really is different this time, but not in the way you are imagining. The classic downcycle will be deeper and longer. "Time will tell the tale once again." It will and is. The writing on the wall is clear for all to read. I can read.

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