Comments on: Signs of Recovery, Signs of Stupidity

By: Spiritual Information

Spiritual Information — Mon, 09 Feb 2009 01:48:01 +0000

Great site! Lots of excellent information. I've bookmarked this page, thanks!

By: Ditech Home Loans

Ditech Home Loans — Fri, 05 Dec 2008 17:47:58 +0000

Lower mortgage rates play only a small part in the recovery process. Housing prices will have to drop according to market demand, which is driven by qualified borrowers. Unqualified homeowners and the lenders that funded their mortgages will eventually be replaced to create a more stable market.

By: chynes

chynes — Thu, 04 Dec 2008 22:42:31 +0000

of course it doesn't indicate a bottom. that's the point of the piece, that the federal government is creating artificial demand by lowering mortgage rates. if it is a bottom (which i doubt) it's a false, temporary bottom, which ultimately could have the effect of undoing the purging of excess from the marketplace.

By: Tolstoy's Ghost

Tolstoy's Ghost — Thu, 04 Dec 2008 21:58:03 +0000

Dead cat bouncing? Fools rush in where wise men dare not tread.

By: New York Federal Reserve Opens ‘Pawn Shop’ to Buy Up ABS Junk « Your Mortgage or Your Life

Thu, 04 Dec 2008 20:14:45 +0000

[...] may be benefits to borrowers, as the effort to relieve the balance sheets of banks may further reduce interest rates, which in turn could help boost real estate sales and mortgage applications – if the banks decide [...]

By: Fielding Mellish

Fielding Mellish — Thu, 04 Dec 2008 17:51:02 +0000

Are you saying that there were 66% more closed sales in Orange Cty in Nov 2008 than there were in 2007? How about average sale price? What has happened to home values for a given home type? “More sales” might appear to indicate a bottoming, but it might not be a real bottoming: Where I am, I'm seeing foreclosed properties being listed for sale @ 30% of their last sale price (albeit with the last sale seeming to have involved shameless fraud). More importantly, I see some list prices for 2-4 unit properties at approximately half of the value one would impute using decades-old methods of rent-multipliers, etc… In other words, at a certain point, banks are just giving properties away and that will bring out some buyers. I'm not sure that means that home values are bottoming, though.

By: morganb (Morgan Brown)

morganb (Morgan Brown) — Thu, 01 Jan 1970 06:59:59 +0000

commenting on this post on blownmortgage.com: http://is.gd/ayoS