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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: peter michaelson who wrote (558)5/6/2012 12:17:29 PM
From: Tommaso  Read Replies (1) of 2722
 
Lenders have become very sticky. Demanding large down payments, credit scores of 775 and higher, proofs not only of income but of the source of the down payment (no loans; explicit guarantees from relatives or friends that any help is an outright gift), anything else they can poke their noses into.

The ridiculous thing is that lenders are neglecting the disastrous position they will be in if they make 30-year loans at less than 4% and after a while find themselves having to pay over 5% on short term money.

And at some point inflationary expectations will start to force interest rates up.

Everything could get a LOT worse.

But I am tired of acting out the old New Yorker cartoon cliché of the bearded guy on the street carrying his sign, THE END IS NEAR.

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