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 : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (21115)	8/12/2007 1:54:25 PM
From: Ilaine	Read Replies (6) \| Respond to of 219855

Right now housing economists are projecting a little over 1% foreclosures, which means a little over 1% people suddenly made homeless, as nobody but the banks seems to be buying foreclosure properties and they aren't renting them out. My sense, based on projections that there will be a big spike in teaser rates locking this October, is that we ain't seen nothing yet. But people with solid jobs and low mortgage payments won't be overwhelmed by this one. At this point we're just looking at a massive wealth transfer from poor to rich. JMHO BTW, re: underwriting standards for these ridiculous loans, everybody, and by "everybody" I mean big lenders like Countrywide, was asleep at the switch. I could tell you stories but now isn't the time.