Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Crimson Ghost who wrote (29470)	4/12/2005 10:00:55 PM
From: kahunabear	Read Replies (1) \| Respond to of 306849

It seems that anyone with a vested interest in the transaction has been removed from the process. Mortgage brokers, realtors, and perhaps even appraisers want the price of a house to sell as high as possible. Why should they care if it defaults ? With securitized mortgages and implied government backing of FNM and FRE it looks to me like subsidized government housing and the taxpayer carrying the ultimate risk. Where are the checks and balances ? Obviously, the buyer should care about geting a good price, but with little or no money down, that doesn't seem to matter either.