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

To: J. P. who wrote (17785)	2/24/2004 3:03:23 PM
From: MSI	Read Replies (2) \| Respond to of 306849

isn't the implied backing of the U.S. taxpayer via the GSE's what made part of this boom possible. Yes, as Elroy says it's a subsidy of risk and rate by taxpayer to homeowner, who are 2/3'rds the same people anyway. As inefficient as the process is it's considered a big plus for the economy across the board. Is Greenspan trying to say go for the ARM's and privatize the loans because low interest rates are here to stay? Cynical answer: he's pushing for more refi's to keep the ball rolling until the election, or so he can retire on an up note and leave the mess for the successor. Non-cynical answer: he's saying rates are headed steady to down. It's like JP Morgan said, "a man says something for two reasons: a good reason, and the real reason"