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

To: Cal Amari who wrote (233844)	12/21/2009 2:53:21 AM
From: Skeeter Bug	Respond to of 306849

vk, isn't your friend way underwater on the home? they ponied up $110k to catch a falling knife? ouch! i suppose every loan is different. i was riding on a plane and the guy told me he was lucky he had an adjustable because his payment was a lot lower than when he originally took out the loan. he was also upside down on the loan, but not be too much. this will get very interesting at some point - the only question is when. most folks think we regress to the mean, but the mean is defined as half above and half BELOW. i think we go lower than most people can imagine right now a lot lower than most people can imagine. i don't know anyone who i factoring in what 7%+ mortgage rates will do to housing (kill it) and i don't see how we can avoid higher interest rates. even bernanke refinanced because he expects rates higher than 5%. i wonder if that SOB got 5% on a jumbo.