SI
SI
discoversearch

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 : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 414.48+0.7%Jan 9 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: carranza2 who wrote (21115)8/12/2007 1:54:25 PM
From: Ilaine  Read Replies (6) of 219210
 
Right now housing economists are projecting a little over 1% foreclosures, which means a little over 1% people suddenly made homeless, as nobody but the banks seems to be buying foreclosure properties and they aren't renting them out.

My sense, based on projections that there will be a big spike in teaser rates locking this October, is that we ain't seen nothing yet.

But people with solid jobs and low mortgage payments won't be overwhelmed by this one.

At this point we're just looking at a massive wealth transfer from poor to rich.

JMHO

BTW, re: underwriting standards for these ridiculous loans, everybody, and by "everybody" I mean big lenders like Countrywide, was asleep at the switch. I could tell you stories but now isn't the time.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News