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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: benwood who wrote (237210)1/29/2010 1:53:54 PM
From: Think4YourselfRead Replies (1) of 306849
 
There is a reason the Fed just announced they are going to stop buying mortgages, and many here know why. People here knew 18 months ago that housing problems would calm down from mid/late 2009 to early 2010. We also know that a firestorm of foreclosures will occur in mid/late 2010, and why they will occur. We have been in a lull on ARM resets that is ending in the next couple of months. There are a buttload of ARM's going to reset this year, and the borrowers are so far underwater that they will almost all choose to walk away...(at least the ones with IQ's over 100 will). The Fed doesn't want to end up paying top dollar to own entire empty housing complexes.

IOW, the brown stuff is about to hit the fan big time and that guy is going to have his nads handed to him.
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