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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: patron_anejo_por_favor who wrote (256837)6/25/2010 8:18:04 PM
From: koanRead Replies (1) of 306849
 
I have sold real estate for 18 years. My market is hot as a pistol. Alaska. People coming up here in a Grapes of Wrath type inflow. Big depression in the lower 48 and we have budget surpluses every year.

We have lots of jobs, no taxes, over 40 billion invested in our permanent fund and our social systems are intact. 600,000 people and twice the size of Texas.

But the financing of homes has never been harder. Wall street took the market they destroyed with CDS's and CDO's and then used it as an excuse to charge huge fees in the name of fiscal responsibility. Like 5 points for investor loans and 25% down.

Boy, have they turned lemons into lemon aid.

Bottom line though, is that I think the fast growing population combined with a need of easy money (low inerst rates)to stop a deflationary depression will raise up housing prices faster than people think.

Also hard to get money to build.

>>It looks like the current wave of mortgage refinancings has run its course, following on the heels of an unprecedented boom in home ownership, mortgage lending, and home equity withdrawals. In Y2K, on average, home equity actually DECLINED, despite record home ownership! Now with unemployment rising and news of new layoffs rolling in almost daily, a crucial question is in the air. Are we on the cusp of an unprecedented bust in housing prices and home lending defaults?>>
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