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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Mike Johnston who wrote (79442)6/13/2007 10:59:08 AM
From: TradeliteRead Replies (2) of 306849
 
<<Maybe some day the pendulum will swing back in the other direction:

-50% downpayment required
-Max 25% housing payment to income ratio
-savings in the bank equivalent to 12 mortgage payments
___________________________-

Maybe it's time the pendulum swings back to the long-out-of-date (since the early 1990s and before that, the late 1970s) concept of OWNER FINANCING for buyers of real estate. If rates go up further and quicker than they have lately, and commercial lending gets tighter, we definitely will revisit the history of owner financing.

Remember when no one on this board had heard of ARMS? (I remember, because I brought it up here years ago, before ARMS inevitably appeared again on the scene, and got laughed out of town because "the APY of an ARM was higher than a fixed rate" (no kidding...that's the point of ARMS....and it looks like the lenders and buyers certainly got the "point" and carried it to its extreme, no?)
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