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

To: Johnny_Blaze_420 who wrote (150359)	9/25/2008 3:53:17 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

he problem i see is not the spread, but if the Treasury takes a blanket approach to all the assets, ie pay 65 cents for the 5 cent piece. i think treasury will take a 'kitchen sink' approach at valuing these assets and that as i said before there is a perverse incentive to keep the asset values inflated....imagine trying to break down the tranches loan by loan...just impossible...that's why whatever bids they're getting in the free market are being rejected....there's a standoff going on here Property taxes are still based on the $10M value until they get revised down or the actual house is sold. as the distressed sale prices start pouring in the comps will justify a downward revision on property tax....the government has every reason to make sure that prices remain inflated