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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (11601)	7/15/2003 5:31:47 PM
From: Jim McMannis	Respond to of 306849

Only $869,000 for a mobile home in the FL keys... flkeysmls.com

To: Jim McMannis who wrote (11601)	7/15/2003 5:39:49 PM
From: Elroy Jetson	Respond to of 306849

Mortgage rates have risen more than a point since the Fed said they wanted more inflation. My concern is they will choose to emulate Japan and bypass the bond market by making home loans directly to the public with printed money (the Japanese Home Lending Corporation), or use the newly printed money to buy Fannie Mae bonds, as suggested by the Chief Economist of the San Francisco Fed in the following paper. federalreserve.gov Greenspan said today this is very much on their mind. "The Federal Reserve has been studying how to provide policy stimulus should our primary tool of adjusting the target federal funds rate no longer be available. Indeed, the FOMC devoted considerable attention to this subject at its June meeting, examining potentially feasible policy alternatives." federalreserve.gov

To: Jim McMannis who wrote (11601)	7/15/2003 7:42:13 PM
From: J. P.	Respond to of 306849

Edit: Looks like big blocks sold on the homebuilders near the close. Somebody didn't like the massive bond selloff. I was looking at rental homes this weekend in the very nice chicago suburb where I live. I can rent a home that would sell for about 750K for 2500 rent/month. Of course, my wife wants to buy, but I'm like hmmmmmm buy a house and be 100K out of pocket and 5K a month, right at the peak of the market and watch my down payment disappear, or rent and be out a $2500 dollar security deposit and $2500/month....hmmmmm.....we actually decided to do nothing and stay put. The landlords I talked to all were complaining about how tough it is to sell now. Of course, nobody wants to bend on price right now so they take it off the market and rent it.